TRADING CONFLUENCE
1. On the daily time frame we can see that price is in an asymmetric triangle
2. The daily candle closed out side the the asymmetric triangle
3. Closing outside the asymmetric triangle does not guarantee a breakout we must see a retest
4. On the 4hr time frame it becomes clear that price has broken the 0.69200 resistance level now turned into support on the 4 hour and also the mega phone pattern
Entry: 0.69200
stop loss: 25 pips
take profit: 0.70000
Thank you
your likes and comments are very much appreciated.
1. On the daily time frame we can see that price is in an asymmetric triangle
2. The daily candle closed out side the the asymmetric triangle
3. Closing outside the asymmetric triangle does not guarantee a breakout we must see a retest
4. On the 4hr time frame it becomes clear that price has broken the 0.69200 resistance level now turned into support on the 4 hour and also the mega phone pattern
Entry: 0.69200
stop loss: 25 pips
take profit: 0.70000
Thank you
your likes and comments are very much appreciated.