Hi Traders!
The market was in a downtrend in the last weeks.
It was moving in a parallel channel with some fake breakouts.
Furthermore, the price was under the 50 period moving average until now.
The market broke out of the parallel channel and retested it 7 bars later.
Our retest-candle is a dragonfly-doji which means bullish strength.
Now it could possibly move further up.
We recommend to buy the breakout with a risk-to-reward ratio of 1 to 3!
Thanks and good luck :)!
The market was in a downtrend in the last weeks.
It was moving in a parallel channel with some fake breakouts.
Furthermore, the price was under the 50 period moving average until now.
The market broke out of the parallel channel and retested it 7 bars later.
Our retest-candle is a dragonfly-doji which means bullish strength.
Now it could possibly move further up.
We recommend to buy the breakout with a risk-to-reward ratio of 1 to 3!
Thanks and good luck :)!