Hello traders,
As we have witnessed a sizable pushup on this pair in recent week and the pair is consolidating at a major level and a flag pattern is appearing. This pair recently has broken the trendline as well. Even if it want to push higher up it needs to retest the trend line at a support level to gain more strength. On the daily timeframe there is every opportunity for this pair to push down and touch the trend line before deciding its fate.
I have therefore marked the entry position, sl and tp as well.
Let me know your toughts.
Trade safe and good luck.
As we have witnessed a sizable pushup on this pair in recent week and the pair is consolidating at a major level and a flag pattern is appearing. This pair recently has broken the trendline as well. Even if it want to push higher up it needs to retest the trend line at a support level to gain more strength. On the daily timeframe there is every opportunity for this pair to push down and touch the trend line before deciding its fate.
I have therefore marked the entry position, sl and tp as well.
Let me know your toughts.
Trade safe and good luck.
Trade closed: stop reached