Here we have a great example for a bullish continuation as you can see a clear market making higher highs and higher lows. We're anticipating a pull back upon market open to retest this key previous daily resistance price @110.00 (handle) as the new weekly candle will be making its lower body/shadow before correcting its self, i would like to see a clear indication of buying pressure around this price to confirm the role reversal for our potential entry, after confirming our entry we should see a re test of the 110.45 price as this is a key previous support we will alleviate risk at this level. Once we see a break and a close above this price we should see a bullish week moving up to re test the 111.35 area again a key previous support we would expect a profit take at this price hence why we wouldn't won't to hold this trade after a retest of this zone our stop loss is simply below the key daily resistance and also below a previous consolidation zone.
Kommentera:
We have placed a buy limit order!
Kommentera:
pending order deleted after target area was tested before reaching our entry price