EURUSD triangle breakout and retest was expected around 1.22100

Dec 28, 2020EURUSD
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⏳1 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Triangle breakout was expected
2️⃣ Retest was expected around 1.22100
3️⃣ Risk off mode and Rising of virus infection around the Europe/concern here
4️⃣ 1.23000 Key psychological resistance
5️⃣ Price was trading within 130 pips
6️⃣ Series of lower side trend line support from 1.20600
7️⃣ Technical support - Bullish
8️⃣ Price is above POC-VOLUME
9️⃣ December high-Immediate resistance
🔟 Weak DXY- Downward pressure- Positive for Euro
#️⃣ Overall bullish trend

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📉 Technical bias-H1-Bullish

Price is above 50,100,200 Exponential moving average
100,200 acting as immediate support, Possible entry point-1.21800
Relative strength index - Reached around 60- overbought fallback expected
MACD -Turn green, Oscillators pointing upward, Strong bullish signal
Stochastic - Reached below 75 level -Short term bearish trend
Ichimoku cloud -cloud is turned green-Cloud support for bull
Bollinger band- Price is reached around upper side of the band-Minor fallback was expected towards middle band

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Key reversal area's
1.22000 Key psychological level
1.22750 December month high
1.22560 Previous week high
1.21600 Previous week low
1.21000 Key psychological level
1.21800 immediate trendline support
1.21800 Possible entry- Bullish

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Bullish entry #EURUSD #euro

Entry price - 1.21800

Take profit 01 - 1.22300 (50 pips)
Take profit 02 - 1.22800 (100 pips)


🚫 Stop lose 1.21500 (30 pips)

⬆️ 2.08% Growth expected
⤴️ Account growth 0.25 : 0.82
✅ Risk reward ratio 1 : 3.28

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Jan 14, 2021

Trade closed: target reached