List of Confluences:
1: Trendline Breakout
2: Key level Breakout around 81.73*
3: Inverse Head and Shoulder Pattern
Summary: This setup has a risk reward (RR) of 3.75 to 1. We can see a trendline breakout on the daily time frame, which indicates a possible bullish move.
A key level breakout is also visible on the daily time frame around 81.73*. This shows a change in market structure from bearish to bullish.
Inverse head and shoulders pattern has formed in the daily time frame which further supports a possible bullish move.
1: Trendline Breakout
2: Key level Breakout around 81.73*
3: Inverse Head and Shoulder Pattern
Summary: This setup has a risk reward (RR) of 3.75 to 1. We can see a trendline breakout on the daily time frame, which indicates a possible bullish move.
A key level breakout is also visible on the daily time frame around 81.73*. This shows a change in market structure from bearish to bullish.
Inverse head and shoulders pattern has formed in the daily time frame which further supports a possible bullish move.
Trade active:
We looking to hold until target is reached, stop loss gets hit or close around the end of the month. Whichever comes first.
Comment:
Price came back for the another retest of the key level which was another opportunity of us to enter long if we missed the entry from earlier.
Trade closed: stop reached