EURUSD - Possible BUY - Multiple Time Frame Confluence
Within the Daily time frame , we are able to see that a rejection has occurred whereby the lower wick of the bearish candlestick is in fact larger than the body itself- demonstrating that a strong rejection has occurred to the linear level. This point can be supported further when looking at the 4HR timeframe where further rejections have also occurred.
A BUY opportunity can also be justified at the fact that the pair is considerably low on RSI and is looking to gain back momentum. Currently we can also see that the Bears are returning into the market and this could enable the buying power to increase.
In terms of entry, ENTER NOW or wait for further Bullish Indication.
A BUY opportunity can also be justified at the fact that the pair is considerably low on RSI and is looking to gain back momentum. Currently we can also see that the Bears are returning into the market and this could enable the buying power to increase.
In terms of entry, ENTER NOW or wait for further Bullish Indication.
Trade active:
Despite the shaky start and late entry, TP1 of 50 pips has been achieved. One more trade running for the swing with SL has being amended to break even.