Could be madness, Could be genius, It could be buy time

Could be a complete blithering idiot here (most probably am) but this is the point of bouncing ideas off each other ...

Looking at a potential buy at 1.21800 ...

5 Min chart:

23 06 22 test of support zone at 1.21800 resulted in bull run to circa 1.2300

4 Hour chart:

Support at 1.218 formed since 17 06 22
4 hour stoch shows support of my idea with hike above 20.00 impending.
Recent bull run commenced by failed.

Monthly Chart:

03 Oct 2016 - 01 July 2019: bullish run from support to peak at 1.42 and then return to retest support.
01 May 2020 bull run to 1.42 and now returning back to support level.

Testing this on my demo account ...

So be honest; how mad do you think I am?

Thanks

RR

Comment:

Still holding this trade - looking for 4 hour candle confirmation to close above sub support and resistance zone as highlighted on my chart but not sure how to display in this section :/
Looking at candle closing above 1.2300 confirmation.

Comment: