Bullish Engulfing & Bull Flagging
- need to close the day on the high in order to have more gains
- need follow up buying on the next candle
- need to break out from this flag with a strong candle
- daily price to close above 50 and 100 ma will be very positive
AB - CD if bull flag is valid.
Enter @ 0.7820
Stop @ 0.7750 (risk 70)
Target 1 @ 0.79300 (resistance zone)
Target 2 @ 0.8030 (reward 210) this is also the 76.4% Fib
(Raise stop to breakeven once we are above the 50% Fib)
Invalidated if:
- USD bull return
- If price fail to close above 100 dma after entry
- need to close the day on the high in order to have more gains
- need follow up buying on the next candle
- need to break out from this flag with a strong candle
- daily price to close above 50 and 100 ma will be very positive
AB - CD if bull flag is valid.
Enter @ 0.7820
Stop @ 0.7750 (risk 70)
Target 1 @ 0.79300 (resistance zone)
Target 2 @ 0.8030 (reward 210) this is also the 76.4% Fib
(Raise stop to breakeven once we are above the 50% Fib)
Invalidated if:
- USD bull return
- If price fail to close above 100 dma after entry