Bullish Pin bar possibility of going long
Level between 1.70490 and 1.70360 have acted as a very good support. the three reasons that prompt us to buy include;
1. this is a good confluent point where there is a support that has been tested more than twice.
2. the region aliases with the Fibonacci 61.8 level where the prices mostly consolidate before bouncing back
3. a price action signal has formed showing that the prices are rejecting the strong support
This is a clue that we will buy long targeting a risk reward ratio of 1:3.5
1. this is a good confluent point where there is a support that has been tested more than twice.
2. the region aliases with the Fibonacci 61.8 level where the prices mostly consolidate before bouncing back
3. a price action signal has formed showing that the prices are rejecting the strong support
This is a clue that we will buy long targeting a risk reward ratio of 1:3.5
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