Looking for a long position off the 1.6759 zone. Key factors:
- Price respecting and bouncing off key level
- 78.60% retracement level being respected
- MACD showing continuation of uptrend with new histogram being formed and lines crossing to the upside
- RSI has shifted to an up position indicating increase in strength
- The beginning of a bullish pin-bar candlestick formation
- Bullish trend-line being respected for the third time
RR: 4.04 ~ SL 16pips ~ TP 65pips
Entry: Once i get a confirmation of a bullish closed candlestick formation forming on the zone AND a break and retest on the small consolidation at the zone on the 15-30 minute time-frame i will execute the trade.
- Price respecting and bouncing off key level
- 78.60% retracement level being respected
- MACD showing continuation of uptrend with new histogram being formed and lines crossing to the upside
- RSI has shifted to an up position indicating increase in strength
- The beginning of a bullish pin-bar candlestick formation
- Bullish trend-line being respected for the third time
RR: 4.04 ~ SL 16pips ~ TP 65pips
Entry: Once i get a confirmation of a bullish closed candlestick formation forming on the zone AND a break and retest on the small consolidation at the zone on the 15-30 minute time-frame i will execute the trade.