Price bounced from 129.000 support level. RSI confirms price reversal and MACD supports upward movement. We have buy opportunity. Entry level for long trades can be higher than MA50 at 129.650 level. Stop orders must be placed below MA100. Profit targets can be the previous swing high and 132.00 resistance level. If the market reverses and drops below 129.00 support level and breaks MA100, we'll have new trading opportunities. Don't forget that all trades must be opened with stop orders and based on money management rules.
Don't agree. I think this could happen but if a rebound would have happened it would have happened last week. Seems like more of a consolidation pattern for continued downside than reversal.
ForexE8
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@amags,
Couldnt agree more, price forming 2nd elliot wave on the 4 hour, 50-61.8% retracement of 1st down wave
DouglasFun
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Hi Dlavrov, Just wondering ig the long trade is still active ?
otmanos
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very professional analysis. keep doing the good job brother.
Mustapha87
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Your analysis' are pristine.
otmanos
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very good analysis. keep doing the good job brother.
akatyk
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Like your analysis though I think we'll see resistance at 130.6