EURUSD: Spring is setting in. Bulls shall have new pasture to graze in.
On hourly charts the Bears had a steady down trend and 27th March was the day when Bulls started staging effective resistance to Bears. From here onward we see that a swing low is formed and subsequently high and lower highs and higher highs are formed.
This brings us to a point where we have two scenarios
1. buy on dip. For this we use fib tool to identify potential entry point.
2. buy when the current Higher high is breached.
Please note that STOP LOSS shall be respective Swing Low, as the case may be.
TPs have been identifies on the chart.
Wishing You a Profitable Trading
On hourly charts the Bears had a steady down trend and 27th March was the day when Bulls started staging effective resistance to Bears. From here onward we see that a swing low is formed and subsequently high and lower highs and higher highs are formed.
This brings us to a point where we have two scenarios
1. buy on dip. For this we use fib tool to identify potential entry point.
2. buy when the current Higher high is breached.
Please note that STOP LOSS shall be respective Swing Low, as the case may be.
TPs have been identifies on the chart.
Wishing You a Profitable Trading
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.
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.