EU - Long to 1.22000

Entry: 1.21350
SL: 1.21100 (25 pips)
TP: 1.22000 (65 pips)

H4: Price has close above the EMA 10 signifying potential upwards movements to the upside. The previous candle has formed a doji signifying indecision. The price would possibly found resistance at 1.21500 level which coincides with the EMA 20. Look for more confirmation on lower TF.

H2: Price has held above the EMA 20 as it starts to move upwards to the resistance at 1.21500.

H1: The price has been in an ascending triangle, which is a bullish pattern. A break of the pattern would trigger a move upwards to retest the 1.21500 level. If the resistance held, it would bounce back to the downside as it test for more downside move. If it break & stay above the 1.21500, the price could potentially continues upward to 1.22000.

Verdict: Long to 1.22000. A strong move towards 1.21500 would confirm the setup. On the other hand, a rejection on 1.21500 would send the price downwards to the 1.21000 & 1.20500.

Trade geschlossen: Stop wurde erreicht