It's respecting the 4HR trendline
It creates a good setup trade RR of 1:4 reward (probably 1:5) because this pair tends to create long candle wicks.
Should be safer trade to wait for breakout, (maybe tomorrow) since today is holidays in US, and there is less liquidity and more chances to be stopped out
It creates a good setup trade RR of 1:4 reward (probably 1:5) because this pair tends to create long candle wicks.
Should be safer trade to wait for breakout, (maybe tomorrow) since today is holidays in US, and there is less liquidity and more chances to be stopped out
Trade active
Zoom to 1 min chart, double bottom at the moment. Could be good entry point.Small positioning, since it's expected to be volatile day with low liquidity
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Note
The double bottom worked for nowBut I'm sceptic that there is enough volume to continue going up. I think it will chop a bit more before the breakout tomorrow?
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It's moving in our direction, but it's fake (black candle is low volume movement with the "the lie detector" indicator)Don't FOMO. You can enter the trade (or add more) after a pullback
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We are close to the profit target.Closing 30% of my position. Moving stop to break even.
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Trade closed manually
Closing, it's enough close of profit.. it looks reversal in short term is happening soon
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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.