market seems to have began its uptrend and is retracing back to previous structure which used to be resistances. Hopefully previous resistances becomes support when pulling back in and provides buying opportunities.Within the blue box I will be looking for buying opportunities such as higher high higher close or if more conservative a double bottom. TP comes in around 1.60000 and stops will be around 1.58348. I will cut half position and will trail stops until 1.62000 if we make it there. :)
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4hr showing resistance and where it can become support....
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red arrows show where it became resistance....green shows where it may become support.
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its coming in to the blue box looking for opportunities
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market is oversold however if we do not get a double bottom or a higher high higher close within this box I will not be trading this move.
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if it closes below my box I will not make this trade
Order cancelled:
no trade :(