LET'S SHOOT FOR THE MOON....AGAINMy reasons for taking a long swing position here..
1. Inverted hammer printed on 1 month timeframe (trend reversal signal)
2. Price gave us a hammer candlestick at a respected support level and an extremely deep retrace below the .786 fib level on the daily time frame. (trend reversal signal)
3. Price is sitting at the bottom of a 4 hr bullish channel (trend reversal signal
* Buy Stop set at 0.84352 2:1 reward:risk ratio
* 3 positions ...TARGETING 100 PIPS... takings profits/trailing stops along the way.
This is not trade/financial advice. This is my personal analysis.
Trade at your own risk.