Price is currently at the 50% Fib level of that bullish impulse so there is a potential extended bullish move to complete 100% of the retracement. Bullish divergence is evident.
SL has been marked.
TP has been marked .
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading ..
Here we go again...
Another buy opportunity and this time on CADCHF.
Daily time frame analysis shows this pair having strong bullish momentum. Price has reached a strong resistance zone where we may potentially see price retrace before moving bullish again.
I will be looking for price to retrace bearish to the 50% Fibonacci level whilst creating bullish...
US crude oil longs in play - In my view, the weekly bearish trend is broken and the daily trend is now in a bullish structure. I see oil reaching 50s before stopping for another pull back then rallying again to 52s.