-This is a really good buy opportunity on the reversal of the 23.8% fib level. -A confluence in the higher timeframe we see ascending channel which indicates a bullish trend. -Another confluence is that 50EMA is below price which shows that we should be looking for bullish signals for this pair. -The supply turned demand zone is in line with the 23.8% fib level which price could potentially retrace from. -Look for a strong bullish candle confirmation around the 23.8% level to buy this pair. Let's see how price will react during the week! Make sure to like and comment your ideas/opinions on this pair!
Trade closed: target reached
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Comment
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Even though I was looking for retracement, there was a strong bullish confirmation which indicated that price could breakout and bulls will take control of this pair. This was a very good trade with a risk to reward ratio of 1:5