Rationale
1.25 round number.
1.25 provided significant resistance previously - hopefully now support.
1.27 Projection of X-A leg comes in around 1.25.
AB=CD also hits similar price area.
RSI bullish divergence (not as strong as I would like to see, but divergence all the same)
Targets
Looking at a retracement up to 1.2583 and potential further movement upwards to 1.2627
Stops
Quarter risk trade minimal stop around 30 points.
1.25 round number.
1.25 provided significant resistance previously - hopefully now support.
1.27 Projection of X-A leg comes in around 1.25.
AB=CD also hits similar price area.
RSI bullish divergence (not as strong as I would like to see, but divergence all the same)
Targets
Looking at a retracement up to 1.2583 and potential further movement upwards to 1.2627
Stops
Quarter risk trade minimal stop around 30 points.
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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.