On an hourly timefraame, EURUSD printed Bullish Divergence followed by a Bullish Pennant Pattern suggesting a Bullish shift.
Entry is suggested on the breakout of previous high with a stop loss on previous low. TP levels are suggested with Risk Reward Ratio of 1:1 and 1:2
Entry is suggested on the breakout of previous high with a stop loss on previous low. TP levels are suggested with Risk Reward Ratio of 1:1 and 1:2
Note
We can consider a protective stop outside breakout bar opposite from breakout direction, a stop and reverse order essentially. If price continues in direction of breakout, profit from breakout entry.
If breakout is false, profit stop and reverse
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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.
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.