I see a potential long opportunity as it has recently just broke out of the 4H trendline. My trading plan will be to wait for a retest of the trend line and enter half my usual lot position. Thereafter, once it breaks out of the short-term trend line as indicated by the purple trend line, then i will enter the other half.
Another possible scenario will be for the price to break right out of the short term trend line. If that happens, i will immediately enter half my lot size. This is a rather risky trade.
Another possible scenario will be for the price to break right out of the short term trend line. If that happens, i will immediately enter half my lot size. This is a rather risky trade.
Comment:
My trade has been positive and right now we are looking at a pullback. I will advise traders that followed this idea to close half their lots in profits and put a buy limit order at 1.0953. This is my identified area where i believe price will pull back to. It has a confluence of horizontal support and a rising trendline support zone