Reasons for
-Firstly on 4 hour chart we clearly see a down trend which has been broken
-We can also see price has broken major trend line which acted as RES
-Since we made the low of around 1.41000 we have put in Higher highs and lower high
-This signifies a possible new trend forming
-Also if we look at the Trend line acting as Support we have had our second bounce
On the daily we have been bullish for 4 days before a bearish candle was put in this may have been because of the FOMC meeting which took place
Altho we do not have many confluence as id like i do believe its going to go long and my bias will remain bullish till we take out the previous lower high :)
Trade safe and maintain a good Risk management strategy
My entry 1.24500
-Firstly on 4 hour chart we clearly see a down trend which has been broken
-We can also see price has broken major trend line which acted as RES
-Since we made the low of around 1.41000 we have put in Higher highs and lower high
-This signifies a possible new trend forming
-Also if we look at the Trend line acting as Support we have had our second bounce
On the daily we have been bullish for 4 days before a bearish candle was put in this may have been because of the FOMC meeting which took place
Altho we do not have many confluence as id like i do believe its going to go long and my bias will remain bullish till we take out the previous lower high :)
Trade safe and maintain a good Risk management strategy
My entry 1.24500
Comment:
*entry 1.42500
Trade closed manually:
Trade closed at 1.4400 (Blue line)
Nice 150 pips profit
Nice 150 pips profit
