Hi Traders!
The market is in a very clear pattern.
After a healthy downtrend the market is now trying to change the trend.
The retracement moves are getting as strong as the trending moves.
At the moment the market is in a flag pattern which is at the resistance at 1.30800.
We're expecting a breakout with the same length as the first "shoot".
If the market breaks out downwards, then this trade setup is invalidated.
We recommend to buy the bullish flag pattern with a risk-to-reward ratio of 1 to 2 and a conversative TP.
Thanks and good luck :)!
The market is in a very clear pattern.
After a healthy downtrend the market is now trying to change the trend.
The retracement moves are getting as strong as the trending moves.
At the moment the market is in a flag pattern which is at the resistance at 1.30800.
We're expecting a breakout with the same length as the first "shoot".
If the market breaks out downwards, then this trade setup is invalidated.
We recommend to buy the bullish flag pattern with a risk-to-reward ratio of 1 to 2 and a conversative TP.
Thanks and good luck :)!