Consolidation Break Out Against the Trend
Updated
Pending order placed on this pair tonight.
I like the look of a breakout on this pair with the trade offering a good r:r.
Weekly trend line has been broken with price testing the weekly 50ema on two occasions. I'll be looking for price to break through that moving average and start a new trend to the upside.
Price is above the daily 50ema.
Price has formed a nice consolidation pattern on the 240 with the same level tested on numerous occasions. That level is also above strong resistance zone which is nice.
Trade closed: stop reached
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