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Roker1
Nov 29, 2017 3:53 PM

Double bottom on EURUSD. Long opportunity? Long

Euro Fx/U.S. DollarFXCM

Description

Hey guys,

here we are on the hourly timeframe on EURUSD. As you can see from the blue box, we've recently broken and closed above a daily structure, signaling a long bias for my strategy. Now, as we go down on lower timeframes such as the hourly, you can see we have a double bottom with RSI divergence terminating with a pinbar+engulfing pattern. I'm going to buy at the close of the actual candle, with stops below the low and targets as shown. If you're more aggressive you could put the second target all the way up to 1,1990/1,2000.

If you have questions/ideas, feel free to share.
Otherwise, see you in the next chart!

Trade active

Trade closed: target reached

First target hit! Stops moved to breakeven now.
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