EURUSD Long Multiple Support Levels

FX:EURUSD   Euro Fx/U.S. Dollar
Ok, so I am using the Hourly Chart and also the 5 min chart to get into this trade... on the hourly, we get some history, lots of support at this level. Also, we have several momentum areas on the charts. Those can be considered tranzient zones, gaps, or just areas that aren't tested. It's likely that they are.

On the 5 min chart, we are forming a higher low and I am getting in at this point because my risk reward ratio is better than if I get in at the breakout... best of luck
Nice example of a psych level.
I'm currently short, but I got in at 1.253 and I'm risk free currently with SL ~break even.
I've missed my 1:1 Target barely on the initial sharp move down earlier this morning.
I also see the higher lows on lower timeframes, but I'm hoping they are part of a flag forming. Perhaps Draghi's speech in half an hour will move the market a bit.

I'd want to wish you good luck, but I'm still hoping price goes below 1.248 :^) After that, it can go long for all I care
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