EURGBP price was struggling at around 0.8747 as I mentioned in my previous update. I also told that price failed to create a higher high which threatens the trend. But price pulled back without reaching the dynamic support and created a higher high.
Then price again retraced back to reach the dynamic support area this time. And it is the time to find the entry point.
With the bull candle crossing the upper band of dynamic support area, we mark the candle and go to 1-hour time frame.
In the 1-hour time-frame, locate the candle that was marked in higher time-frame. Now mark the previous swing high level for a break-out entry into the trade and we've got the entry point as marked in the image by maroon horizontal line.
So the entry level was 0.8714. SL is at below the support level at 0.8680. TP1 was 0.8755 and TP2 was 0.878. Target 1 already achieved. Waiting for the next.... See you soon.
No comments:
Post a Comment