Looking at this chart on the 4 hour or 1 hour you would think of going short but PRICE ACTION IS KEY!
If you look at the bigger picture a bullish hammer has formed on the weekly and daily. This tells me that the bulls are in this market and ready to push this pair up higher. A pullback is possible but not lower than last weeks lows. Another factor for me being bullish on this pair is that I am bearish on USOIL (please look at my previous chart on this commodity).
Trade safe and good luck!
If you look at the bigger picture a bullish hammer has formed on the weekly and daily. This tells me that the bulls are in this market and ready to push this pair up higher. A pullback is possible but not lower than last weeks lows. Another factor for me being bullish on this pair is that I am bearish on USOIL (please look at my previous chart on this commodity).
Trade safe and good luck!
Comment:
Move SL to EP.
Comment:
TP1 hit! 100+ pips
Trade closed: target reached