I think this will be a somehow riskier trade, so I'm risking a small amount here. On the 4h timeframe, a bullish engulfing pattern formed, with a subsequent positive momentum in the next candle. The RSI looks relatively good, as well as the MACD indicator. Fibonacci retracement aligns the 0.618 level with the previous ATH. The TP will be therefore a bit below this level and the SL below the support.
Entry: 0.53585
TP: 0.591922
SL: 0.517555
Risk/reward: 3:1
Disclaimer: I am a beginner learning how to trade.
Entry: 0.53585
TP: 0.591922
SL: 0.517555
Risk/reward: 3:1
Disclaimer: I am a beginner learning how to trade.
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.
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.