- Direction: In a Bullish
Cycle on the H1, showing Bullish
Momentum in Level 2 of the cycle. Entry: Pins and bounce off the 800 EMA
indicated a possible low and after the low was held for over an hour, a W pattern formed, enticing me to enter. In addition, a shark-fin was seen indicating it was going to rise. SL 15 pips below Trade Open (7 pips below current low), and TP 60 pips above Trade Open. The reason for my TP being at this point is because I saw the RSI
Line cross the Trade Signal Line, and the RSI
Line also did a shark-fin as it was overbought (at the 83).