1. Reached zone
2. Respected zone
3. Confirmation with bullish engulfing candle
The trade was confirmed after a bullish engulfing candle was formed on the 30M chart. We waited for the candle to close, it did and we entered. This is on a channel, so it is acceptable to buy on a slight downtrend as the channel is confirmed and could continue.
Entry Price: 123.787
Take profit: 124.000 (20)
Stop loss: 123.590 (20)
The risk to reward ratio is not perfect. So we are risking very little on this trade.
2. Respected zone
3. Confirmation with bullish engulfing candle
The trade was confirmed after a bullish engulfing candle was formed on the 30M chart. We waited for the candle to close, it did and we entered. This is on a channel, so it is acceptable to buy on a slight downtrend as the channel is confirmed and could continue.
Entry Price: 123.787
Take profit: 124.000 (20)
Stop loss: 123.590 (20)
The risk to reward ratio is not perfect. So we are risking very little on this trade.