We have tons of technical confirmations for this trade to go up at least to my target point. There is head and shoulder pattern confirmed at the bottom with a very nice hammer candlestick, trend and pattern line breakout and solid 8h confirmation that price stayed above the line. There is also divergence on RSI and strong steep progression of new direction. Lets see how it works out. I believe It is one of the highest probability trades this year so far.
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after this consolidation the pair will move toward the target very fast. very very high probability trade.
Trade closed: target reached
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Comments
Cambista
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Why do you have a Risk/Reward ratio of 1 ? Or, - lets put the question on other way - why you put the SL so far down?