price has reached and retested the bullish trendline, as well as reaching bellow the 25% of the RSI; suggesting a buy, however, there are a few support and resistance levels (green lines) so the price is likely to retest that as well. We can also see EMA and MA crossing, indicating the change of the direction of the market. However, according to the analysis the price should go up to 78.6 fib level, as it did in a previous HH. We are looking at potential 95 pips as TP and 35 SL. I strongly advice to take partial profits at 61.8 fib level and move the stop loss to break even after you are in a significant profit.
Don't risk more than you can afford to lose.
Don't risk more than you can afford to lose.
Commentaire:
broken market structure