Hello, im closely watching this pair last months.
After the China crisis price reached historical lows (we could have bought there!! but fear was great then)
Looking at monthly chart we can see price is leaving historical lows and a clear wegde
Here on D1 chart:
- Trendline support
- trendline resistance broken and retested
- 0.61 fib retracement
- Strong S/R as support
The fundamentals also support this bias.
It could be a great trade!!
Regards.
After the China crisis price reached historical lows (we could have bought there!! but fear was great then)
Looking at monthly chart we can see price is leaving historical lows and a clear wegde
Here on D1 chart:
- Trendline support
- trendline resistance broken and retested
- 0.61 fib retracement
- Strong S/R as support
The fundamentals also support this bias.
It could be a great trade!!
Regards.
Trade closed: stop reached:
stop out, still think its a good opportunity, i will try to buy lower. regards.