Entry Reasoning:
-82.00 has had strong reactions (Support)
-We have two swing lows with bullish divergence
-We are approaching a bullish trendline (Support)
-We have a bullish bat pattern
Take Profit Reasoning:
-1.27 Extension of the bat pattern
-Strong resistance on the daily
Aggressive Buy - Put limit order at 82.02
Conservative Buy- Wait for orange trendline to break, then enter on pullback
Stop Loss- 10 Pips beyond the 1.13 of the bat pattern
-82.00 has had strong reactions (Support)
-We have two swing lows with bullish divergence
-We are approaching a bullish trendline (Support)
-We have a bullish bat pattern
Take Profit Reasoning:
-1.27 Extension of the bat pattern
-Strong resistance on the daily
Aggressive Buy - Put limit order at 82.02
Conservative Buy- Wait for orange trendline to break, then enter on pullback
Stop Loss- 10 Pips beyond the 1.13 of the bat pattern
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Disclaimer
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.