EUR/PLN Ranging market/pending breakout???
In the 4hr TF:
1) Bullish kumo breakout
2) Weak TK cross
3) Future kumo has a flat resistance
In the daily TF:
1) The current candle has not closed but it is above the kumo
2) Bullish future kumo with a flat support
3) %K crosses %D from below
4) Current Stochastic value = 63
The market seems to be ranging at the moment and heading towards resistance, pending breakout.
TP = 4.6520
SL = 4.2100
Risk to reward ratio is good. The crux is to catch the trend early with minimum pips risked.
1) Bullish kumo breakout
2) Weak TK cross
3) Future kumo has a flat resistance
In the daily TF:
1) The current candle has not closed but it is above the kumo
2) Bullish future kumo with a flat support
3) %K crosses %D from below
4) Current Stochastic value = 63
The market seems to be ranging at the moment and heading towards resistance, pending breakout.
TP = 4.6520
SL = 4.2100
Risk to reward ratio is good. The crux is to catch the trend early with minimum pips risked.
Comment:
Closed partial profit.
Trade closed: target reached