Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 51% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action) for price to continue its push up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (55) sees a long term ascending support line since November 2017 hold up our bullish momentum really well. We’re starting to see a possible break of this long term support line but our major support remains at 51% and only a clean break of that level would be a precursor that a drop is coming.
I am extremely grateful for the lesson you have provided here.
It's amazing how much I actually learned.
Oh my, a good teacher is like freakin GOLD.
You have opened my eyes some more.
Thank you!!
Mike
It's amazing how much I actually learned.
Oh my, a good teacher is like freakin GOLD.
You have opened my eyes some more.
Thank you!!
Mike
PS.. I hope you have more of this.