Liking the long here. Technically speaking, we have a nice bullish close on the recent H4 candle, closing above the previous three H4 candles closes. We also have a breakout of the downtrend line and solid level of support to trade off of on the H1. My stop is below the hourly breakout candle near $1.08590. Will update as the trade progresses. Target is the next high in the area which judging off of H4/daily is like around $1.09570.
Note
Had to work with this one a little bit. I exited this morning before the news came out, locking in a small gain. I then re-entered late morning and rode this up to $1.0940 before locking in profits. Nice trade.
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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.