There are a few factors that come together on this pair. I note my points below that draws my attention to the bulls.
1. Down-trend structure changed to HH and HL
2. Breakout of bullish flag pattern
3. Pullback to Fibonacci zone
4. Bullish engulfing bar completed (See D1 as well for another engulfing bar)
For this type of setup the stops are best placed below the engulfing bar where the trade setup is deemed invalid. The target should be at least 2x the risk, there is potential for further up-side...
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
1. Down-trend structure changed to HH and HL
2. Breakout of bullish flag pattern
3. Pullback to Fibonacci zone
4. Bullish engulfing bar completed (See D1 as well for another engulfing bar)
For this type of setup the stops are best placed below the engulfing bar where the trade setup is deemed invalid. The target should be at least 2x the risk, there is potential for further up-side...
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.