Reasons For
-We formed a triangle formation having multipale bounces on either side
-We broke to the upside
-We have got our retest which is key in my strategy and has put in bullish movement
-Price has put in bullish hammer and then followed by two strong bullish candle clearly showing momentum to the upside
Daily
-We can see 3 bullish candles we are in the direction of the momentum which is key
-Todays candle is looking like it will form a bullish hammer (Sign of bullishness)
-Lots of long wicks too the downside which signifies more buying pressure
Weekly
-Price 2 weeks ago put in a doji
-Last week price put in a bullish engulfing
-On weekly timeframes when a engulfing happens it is a strong confluence
-All these signs identify for me a strong buy setup :)
My entry 128.465
-We formed a triangle formation having multipale bounces on either side
-We broke to the upside
-We have got our retest which is key in my strategy and has put in bullish movement
-Price has put in bullish hammer and then followed by two strong bullish candle clearly showing momentum to the upside
Daily
-We can see 3 bullish candles we are in the direction of the momentum which is key
-Todays candle is looking like it will form a bullish hammer (Sign of bullishness)
-Lots of long wicks too the downside which signifies more buying pressure
Weekly
-Price 2 weeks ago put in a doji
-Last week price put in a bullish engulfing
-On weekly timeframes when a engulfing happens it is a strong confluence
-All these signs identify for me a strong buy setup :)
My entry 128.465
Trade closed: target reached
