Price just broke through a major support but we are seeing price move even lower to the next support. Right now it is following trend and if it respects it we could see price skyrocket upward. USD pairs are becoming weak. There is only so much it can push before there is a correction. To enter this trade we need it to be oversold on the larger time frames and see a bullish engulfing candle. The market is like a rubber band and it is due for a correction. It never retested our support level now turned resistance zone so if it keeps going we will see a bull run. Be prepared.
Trade active
As expected we are now in the trade.
Trade closed: target reached
Tp hit 60 pips profit
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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.