The position was taken because of the following aspects:
The trend is bullish, and we were waiting for a retest in the $1348 zone so we can take a quick long to a very important level found in $1365.
Besides, the upside trendline hasn't been broken so it is another confirmation for us to take that long trade. Furthermore the fibonacci tool has a previous retest in 50% and 38%.
Our target zone: $1365.00
Our Stop Loss: $1339.30
R/R: 1.75
The trend is bullish, and we were waiting for a retest in the $1348 zone so we can take a quick long to a very important level found in $1365.
Besides, the upside trendline hasn't been broken so it is another confirmation for us to take that long trade. Furthermore the fibonacci tool has a previous retest in 50% and 38%.
Our target zone: $1365.00
Our Stop Loss: $1339.30
R/R: 1.75
Trade closed: stop reached