Dollar/Yen Long Position | +27.6 pips
Long position on (EURUSD) +27 pips.
Clean and simple trade setup taken earlier today, price formed intra hour support starting at 1.19506 and second bounce at 1.19590, our 3rd bounce happened with our intra hour resistance trend-line meet up, as you can see we have two trend-lines ( Support & Resistance ) red and green blocks have been added to show this better, red (Resistance) and green (Support) our resistance trend-line started at 1.19387 and 2nd bounce at 1.19712 - we then failed to hold below this level and found a break and closure above, our closure above set at 1.19884 and then we corrected back down to re test the support trend-line and previous resistance trend-line that's now new support, we also tapped into the 61.80% fibonacci correction tool, 4+ confirmations, stops were set below the 61.80% at 3 pips and target into previous highs for +27 pips | If you have any questions on this then please comment and I'll reply as soon as I see the Q | I will appreciate a thumbs up :)
Clean and simple trade setup taken earlier today, price formed intra hour support starting at 1.19506 and second bounce at 1.19590, our 3rd bounce happened with our intra hour resistance trend-line meet up, as you can see we have two trend-lines ( Support & Resistance ) red and green blocks have been added to show this better, red (Resistance) and green (Support) our resistance trend-line started at 1.19387 and 2nd bounce at 1.19712 - we then failed to hold below this level and found a break and closure above, our closure above set at 1.19884 and then we corrected back down to re test the support trend-line and previous resistance trend-line that's now new support, we also tapped into the 61.80% fibonacci correction tool, 4+ confirmations, stops were set below the 61.80% at 3 pips and target into previous highs for +27 pips | If you have any questions on this then please comment and I'll reply as soon as I see the Q | I will appreciate a thumbs up :)
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