I am looking at a long position here. The yellow line is the 110EMA and the orange is the 40EMA. As seen from previous 1 hour time charts, when these two cross, the price has strong movement in the direction of the reversal of the EMA's. This will probably come test the 40EMA again, and then head up for at least a 40 pip gain. If the first target is hit, close out of 75% of the order. This is because price has a high probability of continuing upwards. If the price goes above the first target without touching the entry point, wait for a small pull back when the EMA's cross. Once this happens, buy and wait for the price to hit T2
Comments
Jacksonian
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Price hit very strong support, and rallied up. wait for pull back to 1.845, and then buy, and wait for it to head up to Target 2
Jacksonian
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Still waiting for the EMA's to cross. Once they cross, then long. This could be rolling over and come down a bit still, but for the most part, it's just waiting for the 2 lines to cross