There was chance for a long during the breakout and now we have an other chance to long during the retest of the structure. Maybe if the momentum continue in our way we will see the price continue in our way.
Trend continuation trade. I am getting involve in this trade because i have a pretty good feeling that the up trend is going to continue. The second reason why i want to try it is because we have a pretty profit lost ratio profile.
This is a reversal picture but sometimes i like to trade it on the bull side. We have a break out of the resistance and like we see on my picture we have a realy good profit loss ratio profile so lets get in this trade with two feet.
I think it would be a great move to buy over there. I am a fan of trend following and now i think this moving average show us that the move is going to continue up. You will see on my picture my entry, stop and tp.
I think it is a good time to seel over here because first we see that the market is following the downtrend moving average and we see that it still holing this move over there. When the market will break the moving average on the up side it will probably be too late for a bear position.
Nice selling level because the eur is realy over bought on this pair. You can see on the char the two previous important level in the yellow box. On the hour chart the price seem to have some resistance to go higher.