Price has been consolidating and trading in a range for 3 months. We are approaching the supporting trend line which lead to a higher lows in lower timeframes (recommend to have a look in H4, H1). This is a opportunity for a early, however more risky entry. If the trend line holds and we break out of consolidation, add to your position. Add on pullbacks on lower TF to EMAs.
For an entry now, SL is the prior H4 low at 1.10200.
There is an flag forming in H4, you can wait for breakout to the upside.
Conservative TP can be the top of the range at 1.11800. If we break through, next TP is 1.12600.
If we break the trend line in combination with a lower low, get ready for a juicy short. Don't trade what you hope is coming, trade what the market is giving you and prepare for every possible situation!
For an entry now, SL is the prior H4 low at 1.10200.
There is an flag forming in H4, you can wait for breakout to the upside.
Conservative TP can be the top of the range at 1.11800. If we break through, next TP is 1.12600.
If we break the trend line in combination with a lower low, get ready for a juicy short. Don't trade what you hope is coming, trade what the market is giving you and prepare for every possible situation!