twistsiwt

1hr Buy-Risk Reward 4.4

Long
FOREXCOM:EURUSD   Euro / U.S. Dollar
67 views
3
Although we're in a 4hr and 1 hr downtrend, price looks to be seeking out the outer channel line for support, as well as the green dotted support line where daily and weekly buyers live. These buyers have breached from here previoulsy as well as bounced price from here.

This green line is representative of very good buying value, this should be your target entry zone on a buy. Be careful though if price doesnt show signs of swinging here then it will seek next support line down.

A bullish candle has closed on 4 hr chart already too indicating buyers in this zone.

Make sure to wait for more bullish signals. If it doesnt retrace into the buy zone, dont chase it. Let it run

Watch out for Upcoming US New Event after their lunch.
Comment: I shouldnt have gone to bed, missed entry. Price will likely hit a cieling and dip back down to current levels so dont stay in too long if you took this buy.

CLosed

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