This is a little later then I made the trade because I got the notification that price got to my buy point while away from my computer so I placed the trade on my phone.
Reasons:
price broke bearish trend line
continuation of a bullish trend
retest above trend line on the one hour
dollar index is bearish
The continuation of the bullish trend and the bearish DXY was enough to make me confident that the price wouldn't fall back below the trend line so when the price was testing it again on the 1 hour I entered a long trade and didn't wait for price to break above the last high.
first take profit will be around 1.22 and the second will be around 1.23
let me know what y'all think!
Reasons:
price broke bearish trend line
continuation of a bullish trend
retest above trend line on the one hour
dollar index is bearish
The continuation of the bullish trend and the bearish DXY was enough to make me confident that the price wouldn't fall back below the trend line so when the price was testing it again on the 1 hour I entered a long trade and didn't wait for price to break above the last high.
first take profit will be around 1.22 and the second will be around 1.23
let me know what y'all think!