Looks like we broke up thedescending triangle, nice set up for a long, if you want to be more conservative, its better to wait for a break of the 200MA and then go long.
Let me know what you think
After the bulish engulment candle the pair is trading inside the candle channel. I see 2 options here for going long
Option 1 - We can go long after we see a close above the resistence line.
Option 2 (Risk takers) - We go long while inside the channel and put a SL below the Support.
This looks like a good set up for going long here, we have a 200MA break up in 3D time frame and also prie action is indicating a bulish hidden divergence in the with RSI + the candle was an engulfing candle.
Let me know what you think below in the comments
Break of the downtrend trendline, there was a bulish engulfment candle followed by a retest of the trendline. I think it is good set up for a long position with good Risk reward. What you guys think?