Hey guys. Heading into new trading week we have a nice opportunity to go long on EURPLN. The red trendline has been supportive for all recent reversals to the upside since beginning of the 2016. The same thing can be said about 100 bar Weekly Moving Average. Today we can see a hollow candle being formed on daily char. My idea would be entering now with SL at 4.25 and a minimum TP at 4.35 with a potential to go higher. Good luck everyone!
Comment:
Today we had a pretty nervous situation. I almost got stopped out at 4.25 (we wen't as low as 4.27-28. However, a beatiful hollow morning star candle on 4 hour chart had formed encouraging a reversal in the downtred. We should not take anything for granted but it's certainly a good signal.