Trade (1)
Entry Type : Limit Buy @ 68.000
Stop Loss : 67.450
Take Profit : 70.250
R/R : 4.09
R/R % : 0.50% / 2.045%
Trade (2)
Entry Type : Limit Buy @ 69.000
Stop Loss : 68.500
Take Profit : 71.000
R/R : 4
R/R % : 0.50% / 2.00%
Technical Analysis:
Price Action has bottomed at 66.750 with a morning star candle stick formation highlighted. Post morning star we can see price move up breaking our September 10-12th highs and creating a higher low. We now look to retest 68.0 which is our 50.0 Fibonacci level on our smaller timeframe uptrend. I can see price pushing upward toward our -27.2 Fib extension which coincides with our 70.000-70.250 region. The second trade I have lined up is assuming the new bullish trend with a break and retest of the 69.000 - 68.750 level. Post retest I would expect bullish moment to carry price until 71.000.
Entry Type : Limit Buy @ 68.000
Stop Loss : 67.450
Take Profit : 70.250
R/R : 4.09
R/R % : 0.50% / 2.045%
Trade (2)
Entry Type : Limit Buy @ 69.000
Stop Loss : 68.500
Take Profit : 71.000
R/R : 4
R/R % : 0.50% / 2.00%
Technical Analysis:
Price Action has bottomed at 66.750 with a morning star candle stick formation highlighted. Post morning star we can see price move up breaking our September 10-12th highs and creating a higher low. We now look to retest 68.0 which is our 50.0 Fibonacci level on our smaller timeframe uptrend. I can see price pushing upward toward our -27.2 Fib extension which coincides with our 70.000-70.250 region. The second trade I have lined up is assuming the new bullish trend with a break and retest of the 69.000 - 68.750 level. Post retest I would expect bullish moment to carry price until 71.000.