made a higher low and formed a double bottom
pattern and fixed above the resistance of the pattern before market close, indicating a continuation of buying pressure for the week ahead. I entered when I saw a reversal happening at the 1.56 support zone
and our position is +17% in profit so far. In addition, the market is finally above the ichimoku cloud
and as you can see from the chart, it had been getting rejected by Senkou A (the top boundary of the cloud), multiple times and when it had broken out from it at the start of December, it was followed by a +1% increase. We had been oversold in this market and there was a bullish divergence
forming on RSI
and momentum, all to support the bullish
argument for the pair. I will hold the position with a trailing stop until the target is reached. Follow me for more trade ideas and market analyses. Best, Umit *This is not investment advice.