hello everyone & Happy Monday! :))
There are multiple reasons why I like this setup:
- It's trending towards the upside on the main higher time frames, crossing all the moving averages.
- On a weekly time frame, we had a closure of a bullish engulfing candlestick which formed a new high.
- On 1-hour & 4-hour tf > the price has crossed all MA's and they nicely covering our stop loss and we can see a nice break through the resistance zone, indicating bullish bias.
- The trade has the potential to go higher to re-test the 12-hour previous high.
- Some AUD news later this evening, might have some influence on the trade but I believe it won't change the bullish direction drastically.
There are multiple reasons why I like this setup:
- It's trending towards the upside on the main higher time frames, crossing all the moving averages.
- On a weekly time frame, we had a closure of a bullish engulfing candlestick which formed a new high.
- On 1-hour & 4-hour tf > the price has crossed all MA's and they nicely covering our stop loss and we can see a nice break through the resistance zone, indicating bullish bias.
- The trade has the potential to go higher to re-test the 12-hour previous high.
- Some AUD news later this evening, might have some influence on the trade but I believe it won't change the bullish direction drastically.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.