Monaco Buy Signal

Based on the 4H chart of Monaco, we can see that the price bounces from the support zone. This zone is formed by Simple Moving Average with period 50 and 0.003500 support level. MACD histogram and RSI confirm price reversal. DMI shows trend market conditions and allows opening long trades. It's a buy signal. Pending orders should be placed above the high of the signal candle at 0.004600 level. Stop orders must be place below the support level. Profit target is at 0.006000 level and a part of trading volume should be left for long run.

Commentaire:

The market did not move upward. The pending orders for buy were not activated. They must be deleted and we have to wait for a new trading opportunity. If you have opened long position, you can hold them in long run.