On the daily chart we have seen that price has closed below the support line. At this time price will retest this line to determine the direction that it will take.
To be safe we can place a buy above the S/R line and ride it up.
Red Dotted lines are temporary S&R levels
Orange lines are more well respected S&R levels
Overall i would want this pair to head into the 152 area again but we do have a zone at around 149.35 - 150.20 that might give us some trouble.
ENTRY 147.350
SL - 146.400
TP - 152.800
To be safe we can place a buy above the S/R line and ride it up.
Red Dotted lines are temporary S&R levels
Orange lines are more well respected S&R levels
Overall i would want this pair to head into the 152 area again but we do have a zone at around 149.35 - 150.20 that might give us some trouble.
ENTRY 147.350
SL - 146.400
TP - 152.800
Trade closed: stop reached
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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.