After breaking the capped trend line the market has pulled back and formed a bullish engulfing bar above this level.
The market has formed a higher high and higher low indicating the possible start of a bullish structure. Relying on one HH and HL is not enough for me so I will look to buy once another higher low has formed using price action. Take note that for now this chart is still greatly bearish until the said conditions have been met.
Conservative traders will wait for confirmation and aggressive traders enter at market price. There are a few interesting factors at play here to consider:
1. Fibonacci zone
2. Bullish engulfing bar
3. HH & HL
4. Aggressive traders can enjoy a low risk entry at current market price
Join me in Forex Bootcamp for live updates using the link below.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
The market has formed a higher high and higher low indicating the possible start of a bullish structure. Relying on one HH and HL is not enough for me so I will look to buy once another higher low has formed using price action. Take note that for now this chart is still greatly bearish until the said conditions have been met.
Conservative traders will wait for confirmation and aggressive traders enter at market price. There are a few interesting factors at play here to consider:
1. Fibonacci zone
2. Bullish engulfing bar
3. HH & HL
4. Aggressive traders can enjoy a low risk entry at current market price
Join me in Forex Bootcamp for live updates using the link below.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.