EUR/USD LONG - Bounce off Trendline/Bounce off Monthly Support
New highs expected with this pair, HH's and LH's are being created consistently, its broken above the monthly level of resistance which is now support and is on a trendily to the upside. The daily and weekly candles have been bullish around the monthly level, and on the monthly the last candle was a doji.
Took this trade on the 4HR, just waiting for a bullish close on the 1HR chart to enter the trade. A good R/R on this trade also, being conservative on the TP level, not putting it above the last high but on the same level as the last high even though the pair is making HH's and HL's.
TP @ 1.06577
SL @ 1.05689
R/R @ 2.61
Took this trade on the 4HR, just waiting for a bullish close on the 1HR chart to enter the trade. A good R/R on this trade also, being conservative on the TP level, not putting it above the last high but on the same level as the last high even though the pair is making HH's and HL's.
TP @ 1.06577
SL @ 1.05689
R/R @ 2.61
Trade closed: target reached:
Target reached.