Hi Traders! The market was in a downtrend in the last weeks. It was moving in a parallel channel with some fake breakouts. Furthermore, the price was under the 50 period moving average until now. The market broke out of the parallel channel and retested it 7 bars later. Our retest-candle is a dragonfly-doji which means bullish strength. Now it could possibly move further up. We recommend to buy the breakout with a risk-to-reward ratio of 1 to 3!
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