The market has moved lower over the last few days but managed to hold the last support level on the 1hr chart . When the price did hit it there was a strong bullish candle + good volume.
I have bought with a stop at 1060 and will look to hold this into next week with a target of 1300 which is where we could see some resistance due to being a round number.
Very close to hitting my target for the day. This could go even more but lets see what happens when it hits 1200 there is always some resistance at round numbers.
I have gone long with a target of 1200/R2
You can see we had some volume where the green arrow is on the chart which showed traders are active and with the price so close to resistance I took the opportunity to buy. We are also seeing an increase in volume with the price moving towards the resistance area.
As you can see from the picture the market did move and never tested our support from yesterday but we have started to make a range so we could see an opportunity if this breaks out or tests our support.
Source : Tradersprofit.co.uk
