UCAD potential long setup base on resistance lines.
This setup come from the following indicators.
1. "Purple descending line" resistance form last decade. could create some resistance when this pairs move up.
2. Support and Resistance lines for a very long expectation of down trend as seen by many arrow along the chart.
Setup configuration :: (Please check related idea for more over views.)
[ LONG @ 1.1200 ] (As point by Purple box)
This number come from many previous days price support/resistance as indicated by blue arrows.
[ STOP @ 1.1000 ] (As point by RED box)
This number come from the last peak, and numeral smaller peak under its. Thus, it shown some sign of price rejection under this numbers. ( If price "go below" this level it mean there is not "up trend" anymore. and long positions should be exited)
[ TARGET 1 @ 1.1800 ] (As point by Orange Box)
This number come from price support in year 2004 and again in year 2006. (Please check related idea for more over views.)
1. "Purple descending line" resistance form last decade. could create some resistance when this pairs move up.
2. Support and Resistance lines for a very long expectation of down trend as seen by many arrow along the chart.
Setup configuration :: (Please check related idea for more over views.)
[ LONG @ 1.1200 ] (As point by Purple box)
This number come from many previous days price support/resistance as indicated by blue arrows.
[ STOP @ 1.1000 ] (As point by RED box)
This number come from the last peak, and numeral smaller peak under its. Thus, it shown some sign of price rejection under this numbers. ( If price "go below" this level it mean there is not "up trend" anymore. and long positions should be exited)
[ TARGET 1 @ 1.1800 ] (As point by Orange Box)
This number come from price support in year 2004 and again in year 2006. (Please check related idea for more over views.)
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