As you can see, price retraced creating a good buying opportunity.
Price retraced 50% of the Fibonnaci retracement and met some solid support at this level. From this point, price has potential to carry on moving bullish to our Take profit.
Price and RSI have also created bullish divergence, which we would use as confirmation.
The stop loss would invalidate the trade should price move to that zone. Risk 1% and no more then 2% if you are more aggressive.
Happy trading all.
Price retraced 50% of the Fibonnaci retracement and met some solid support at this level. From this point, price has potential to carry on moving bullish to our Take profit.
Price and RSI have also created bullish divergence, which we would use as confirmation.
The stop loss would invalidate the trade should price move to that zone. Risk 1% and no more then 2% if you are more aggressive.
Happy trading all.