- Breakout of the channel on the H1 showing price structure being taken out and supporting this bullish sentiment.
- Bullish divergence on the H4 using stochastics implying the bearish momentum coming to a halt and that we are in the mist of seeing a reversal after testing the lows of 1.1450.
- Clear rejection of the weekly support level on the D1 with a long legged doji, almost a dragonfly, which we saw yesterday on the daily closure.
- Targeting just above the 1.1600 level to my H4 resistance level with around 115 pips to be gained with a 70 pips stop loss.
- Bullish divergence on the H4 using stochastics implying the bearish momentum coming to a halt and that we are in the mist of seeing a reversal after testing the lows of 1.1450.
- Clear rejection of the weekly support level on the D1 with a long legged doji, almost a dragonfly, which we saw yesterday on the daily closure.
- Targeting just above the 1.1600 level to my H4 resistance level with around 115 pips to be gained with a 70 pips stop loss.
Trade closed: target reached:
Trade complete, 115 pips gained!