Entry: 152.300
TP: 153.6
SL: 151.6
Bias: Long
D: Price has previously bounced off Fib .618 (150.488), making a new higher low, signifying a potential new uptrend. Next immediate target at previous high Fib 1 (153.851).
H4: EMA has crossover signifying upward movement. A Pin Bar Continuation pattern has also formed after touching & rejected off the EMA crossover.
H2: Price has previously bounced off the EMA 20 & EMA 10. The previous candlestick has also bounce off the EMA 10, but it has close below the open, signifying there might be some potential bearish movement left. Price will likely to retest the EMA 10 again before continuing the upward movement. Look for H1 for more confirmation.
H1: A Pennant formation can be seen forming and a breakout above could potentially continue the upward movement towards the previous high at Fib 1 (153.851). A Hammer/Pin Bar Reversal formation has form at the previous support 152.650.
TP: 153.6
SL: 151.6
Bias: Long
H1: A Pennant formation can be seen forming and a breakout above could potentially continue the upward movement towards the previous high at Fib 1 (153.851). A Hammer/Pin Bar Reversal formation has form at the previous support 152.650.
Trade closed: stop reached