A last day of the week trade - 1:1 RR.
Monthly
Tweezer bottoms with bullish engulfing rejecting key area of 1.0500 in January. Last month we tested this area again and March seems to have taken bearish price action out of play - this month is still yet to close however.
Weekly
MA crossover to the upside after 4 weeks of bullish price action, tweezer bottoms rejection the key area of 1.0500 completing a higher low and support directional bias.
Daily
MAs in alignment with weekly chart - large bullish candles after smooth pullbacks. Breach of a daily barrier on Tuesday at 1.07630. Clear higher lows and highs.
H4
MAs just crossed over to the upside in alignment with both daily and weekly timeframes. Price has pulled back to retest and reject (i) daily support at 1.07630 (ii) 50% fib level (iii) TL - completing a higher low. We also have formed a bearish engulfing this morning which has taken our 32 hours of prior price action and as broken our CTL.
Monthly
Tweezer bottoms with bullish engulfing rejecting key area of 1.0500 in January. Last month we tested this area again and March seems to have taken bearish price action out of play - this month is still yet to close however.
Weekly
MA crossover to the upside after 4 weeks of bullish price action, tweezer bottoms rejection the key area of 1.0500 completing a higher low and support directional bias.
Daily
MAs in alignment with weekly chart - large bullish candles after smooth pullbacks. Breach of a daily barrier on Tuesday at 1.07630. Clear higher lows and highs.
H4
MAs just crossed over to the upside in alignment with both daily and weekly timeframes. Price has pulled back to retest and reject (i) daily support at 1.07630 (ii) 50% fib level (iii) TL - completing a higher low. We also have formed a bearish engulfing this morning which has taken our 32 hours of prior price action and as broken our CTL.
Trade closed: target reached
