EURUSD 1H - Buy and leave double bottom behind
Updated
Hi everyone,
There is a good possibility, in my opinion, to go long for this pair. As you can see, there were 2 long wicks at the same level, showing a possible double bottom that give us a sign to look to the upside. The Fibonacci level 618 seems to be a decent support and price is retracing towards this level. The top edge of the long bearish channel this pair has been in for months is really close. Price could be rejected again, but in my opinion, looking the price action, could be broken this time.
Buy now or at 1.11893
TP: 1.12586
SL: 1.11664
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
There is a good possibility, in my opinion, to go long for this pair. As you can see, there were 2 long wicks at the same level, showing a possible double bottom that give us a sign to look to the upside. The Fibonacci level 618 seems to be a decent support and price is retracing towards this level. The top edge of the long bearish channel this pair has been in for months is really close. Price could be rejected again, but in my opinion, looking the price action, could be broken this time.
Buy now or at 1.11893
TP: 1.12586
SL: 1.11664
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Trade active
Trade closed: stop reached
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.