Hey guys,
here we are on the hourly timeframe on EURUSD. As you can see from the blue box, we've recently broken and closed above a daily structure, signaling a long bias for my strategy. Now, as we go down on lower timeframes such as the hourly, you can see we have a double bottom with RSI divergence terminating with a pinbar+engulfing pattern. I'm going to buy at the close of the actual candle, with stops below the low and targets as shown. If you're more aggressive you could put the second target all the way up to 1,1990/1,2000.
If you have questions/ideas, feel free to share.
Otherwise, see you in the next chart!
here we are on the hourly timeframe on EURUSD. As you can see from the blue box, we've recently broken and closed above a daily structure, signaling a long bias for my strategy. Now, as we go down on lower timeframes such as the hourly, you can see we have a double bottom with RSI divergence terminating with a pinbar+engulfing pattern. I'm going to buy at the close of the actual candle, with stops below the low and targets as shown. If you're more aggressive you could put the second target all the way up to 1,1990/1,2000.
If you have questions/ideas, feel free to share.
Otherwise, see you in the next chart!
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First target hit! Stops moved to breakeven now.
