Looking at the chart above, the price has shown the break of structure out of the range to the upside and went back to retest it. The bullish arrow marker Is pointing at the pin bar candle showing weakness in the bears, and it's engulfed by a bullish engulfing candle, showing strength in the bulls.
Note: that trade setup is showing two confluence: 1. The price is respecting the bullish trendline. 2. There is a horizontal trendline that the price is sitting on at the point of rejection.
Entry:1.2330
Stop Loss: 1.2317
Take-Profit1.2350.
Note: that trade setup is showing two confluence: 1. The price is respecting the bullish trendline. 2. There is a horizontal trendline that the price is sitting on at the point of rejection.
Entry:1.2330
Stop Loss: 1.2317
Take-Profit1.2350.