Eurusdbullish
EURUSD, 4hr tf, three white soldiers for further upsideHello my friends,
I found a very interesting setup for EURUSD.
The recent 4hr candles formed three white soldiers pattern which is a bullish pattern.
I think we might see EURUSD continue upwards in the coming days.
Right now price retracing a bit and it will be a good opportunity to enter buy.
Buy EURUSD 1.2200
Stop loss 1.2150
Take profit 1.2300 (2R)
RR ratio 1 : 2
Use only 1-2% risk
Good luck
EurUsd bullish pushup - Looking at the daily, price has been bouncing off the weekly support at 1.07748 and ranging within a 250pip area
- this range with slight downward pressure formed a triple bottom, inside the last bottom a smaller triple bottom was formed that helped push price up
- then going down to the 4 hour chart a bullish divergence seems to be forming but need to wait on a 2nd candle which would not be lower than this previous
4 hour candle. Once that is formed i will make an entry with an SL right below the previous higher-low-candle..No entry before divergence is confirmed.
- 1st target will be 1.10315, 2nd target will be 1.11349
EURUSD fakes out off 4-hour level, showing momentum to push high1. Price made a dip below the 1.077 level and quickly recovered above it. It trapped a lot of traders who treated this as a sell off and closed up above this level.
2. This second label is actually the second pull back. The initial pullback did not have a significant level. My entry proposal is based on this second pull back for a couple of reasons.
i) Faster and slower moving averages have converged. We're seeing shorter term price acceleration with with the EMA-20 threatening to cross above the EMA-60.
ii) Selling pressure has significantly weakened. If this current 1.0815 level holds up, we could potential see quite a push higher.