It looks as if oil dipped back lower on some critical levels. But the channel breakout looks like a false impulse and this pair looks to move up. Wait for the trend to reach the Monthly support level 1.267, watch out for a reversal candle on a higher time frame and a good entry on a 15 minute chart.
Target 1 = 1.30115
Target 2 = 1.31342
Like or comment your views and let have a happy trading session.
Target 1 = 1.30115
Target 2 = 1.31342
Like or comment your views and let have a happy trading session.
Trade active
Watch the price action closely, this will be a long smooth ride up :-)Note
Its okay to move your stops to the next Support Resistance levels on a lower time frame. Give a thumbs up or comment if you are in this trade. Thanks and Happy Trading. LEGGO
Note
TP 1 Reached after J. Yellen's speech on Friday regards to US rate hikes. The US Dollar is likely to gain more strength following this announcement. Happy trading guys.Trade closed: target reached
Happy piping,Note
The monthly resistance zone comes into play, we might have to hold for a candlestick confirmation to test the area
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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.