Price has retraced back into a Daily Propulsion Block. On the H4 Chart, price has dropped back in an area we label "Source".
As per our system at AmplaFX, the H1 and M15 rules are fulfilled so we have found a long position available at current market price. Looking to take it up to refill the H4 imbalance for an RR of 1:5.
I anticipate price to trade through and beyond this level challenging old highs.
However, a short term swing position is avaiilable here for a 1:5 RR based trade.
tedency indicates CAD strength and CHF weakness which adds further support to this trade idea.
I wish you all good luck and good trading.
Small gain on this one.
I'll update on TP if that pending order is activated.
TP 1: 0.73900
TP 2: 0.74660