A diminished bearish momentum with the EUR can be spotted. On the one hand, the double bottom is created at the support level, and the bullish divergence from the MACD gives enough confirmation for a long entry.
For this setup, a buy-stop position will do as if the price doesn't pullback; it can keep its bearishness without any damage. But on the contrary, if the correction happens, price action will trigger the long entry with room enough to target as usual an R:R | 1:2 with the T/P at the top of the channel formation that has been formed.
For this setup, a buy-stop position will do as if the price doesn't pullback; it can keep its bearishness without any damage. But on the contrary, if the correction happens, price action will trigger the long entry with room enough to target as usual an R:R | 1:2 with the T/P at the top of the channel formation that has been formed.
Order cancelled
Order did no trigger the buy stop entry
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FEEL FREE TO CHECK MY SOCIAL NETWORKS FOR MORE MARKET INFORMATION 🇺🇸 🇪🇸
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
TWITTER
twitter.com/ogfxtrader
FACEBOOK
facebook.com/ogfxtrader
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
twitter.com/ogfxtrader
facebook.com/ogfxtrader
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.