Reviewing this pair there are several reasons to start a trade:
I decided to buy in this trade along in MT4 marking a support (key point) 0.75920 it was before, it became resistance and now is support again with higher lows
For temp long term: Weekly, Diary and 4H price is reaching an important support located in the channel marked with higher lows
In temp H1:...
Yesterday morning I was scheduling this trade with an entry price at 0.76200 - S/L > 0.76610 and TP > 0.75650. The truth the trade I forgot to deactivate it in MT4. Anyway last night I opened my laptop and was running. It almost reached my S/L but it didn't happened but so far so good :)
According with my analysis the reasons to be in this trade are:
In Weekly...
According with what I've noticed in this pair (new for me by the way) It came strongly bullish but based in my analysis this what could happen:
In MT4 I marked a monthly resistance at 1.33148 same marked in the chart
Besides the doji in that area the candles are smaller and I notice a little bigger bearish candlestick it means that the price wants to drop
Price...
Making a previous analysis I found a few reasons to think in buying:
In MT4 RSI indicates a high lever (near 70)
Price leaving that small PRZ marked in the rectangle Bullish tendency. 2 days ago I had profit with this pair
In lower temp candlesticks indicates long
My projection for this pair is expect that the prize can descend respecting the PRZ pattern. The parameters to buy are: Start price at: 1.18350 / S/L: 1.18000 / T/P: 1.18690
Reasons for the analysis:
In long term (weekly) is bullish
Price respects the Trend lines marked
Using MT4 the price wants to reach a monthly resistance 1.20520
