Price looking overbought.
Volume indicating possible trend reversal.
TP at Fibonacci retracement levels ( has potential for a full retracement to 0.6180)
SL above hourly candle
Volume indicating possible trend reversal.
TP at Fibonacci retracement levels ( has potential for a full retracement to 0.6180)
SL above hourly candle
Note
Extending Take profit level to 0.5 fib retracement level 1.2307. Euro looking really weak and dollar showing strength. Will take profit early if i notice buying pressure on MM oscillator and volume switches.
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Trade closed: target reached
Taking profit of 1:5 on this trade. But definitely still got potential to drop further, 1.2286 would be my next TP levelNote
Price showing buying pressure and appears set to rise back to level it dropped from.
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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.