- 4Hr >> Stochastics rising and above 50 level showing bullish momentum. Price is above the 55MA (bullish signals) -1Hr >>> Price broke out of the bearish trend on the 1hr time frame. Expect price to test the 200MA or give a retracement back to the area of resis now turned support. - 15Min >> Price testing the fast 13MA and stochs over bought.. Looking for a pull back on the 15 min
Will place 2 buy limits, 1 at the 1hr 200MA with a 45 pip SL and the other at the area of support with a 20 pip SL. Take profit will be below the 4hr 200 MA
Trade active
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Both positions are now active and resting on that 1.75500 support area
Trade closed: target reached
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Both positions hit TP a few pips below the 4hr 200MA. Trade executed as analysed and was successful.