Reasons for
-Firstly on the 4 Hour time frame we are up trending
-There is a major trend line above us so therefore i believe that is prices next level before any bearish movement
-We are making higher swings after coming down to our Trendline below price which is acting as support
-We have clearly seen a reaction from this trend line acting as support as you can see we have bounced of with a very Bullish candle !
-We also trading above major key level of 0.7000
so best thing to do on the 4 hour is to buy
Anyways like i said this trade is more risky simply because on the daily and higher time frames we are in a strong downtrend.
Until we break the trend line to the upside then i will look for long term buying setups
But i would be very careful of this setup guys as the best thing to do would be to sell
but i will be looking to sell in the near future
Also its a small stop loss of 30 pips which is extremely low risk :)
My entry 0.70555
Trade safe guys good luck
RISKY TRADE SETUP !
-Firstly on the 4 Hour time frame we are up trending
-There is a major trend line above us so therefore i believe that is prices next level before any bearish movement
-We are making higher swings after coming down to our Trendline below price which is acting as support
-We have clearly seen a reaction from this trend line acting as support as you can see we have bounced of with a very Bullish candle !
-We also trading above major key level of 0.7000
so best thing to do on the 4 hour is to buy
Anyways like i said this trade is more risky simply because on the daily and higher time frames we are in a strong downtrend.
Until we break the trend line to the upside then i will look for long term buying setups
But i would be very careful of this setup guys as the best thing to do would be to sell
but i will be looking to sell in the near future
Also its a small stop loss of 30 pips which is extremely low risk :)
My entry 0.70555
Trade safe guys good luck
RISKY TRADE SETUP !
Trade closed: stop reached:
Small loss of 35 pips winners always bigger then losers :)
