On H4, market has already made a breakout and is testing the previous resistance as a support.
Moreover, MACD shows a clear gain in momentum to the upside.
MA 50 slooping upwards, a sign of an uptrend.
On H1, bullish divergence on %D of the stochastic.
Will enter the trade with a buy stop and not a market order, reducing the risk further. The buy stop will go 1 pip+spread above the last high.
Trade wil not be valid if any H4 candle closes below 1.20900 before the stop is triggered.
Thank for reading. Happy Trading.
Moreover, MACD shows a clear gain in momentum to the upside.
MA 50 slooping upwards, a sign of an uptrend.
On H1, bullish divergence on %D of the stochastic.
Will enter the trade with a buy stop and not a market order, reducing the risk further. The buy stop will go 1 pip+spread above the last high.
Trade wil not be valid if any H4 candle closes below 1.20900 before the stop is triggered.
Thank for reading. Happy Trading.
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TRADE CANCELLED
Hey guys, I took off my buy stops.
If you will check the D chart, you will find that there is a strong resistance just above the BUY STOP, as well as the MA 50 is close by and will offer resistance. It will be a fatal mistake to BUY into resistance.
Hey guys, I took off my buy stops.
If you will check the D chart, you will find that there is a strong resistance just above the BUY STOP, as well as the MA 50 is close by and will offer resistance. It will be a fatal mistake to BUY into resistance.