We are looking for higher highs on the chart and higher highs in the MACD histogram. Once we get the bullish convergence, follow the plan as in the image below – correction and go long.
During the correction we can go long based on H1 hidden divergence for example, false breaks, trend line..Whatever comes first and provides a good risk reward ratio for our setup.
Stop Loss – below last low created.
Targets – as first target we can use 1.9000 level, final target 2.0000. Of course watch for opposite divergence to form which will be an early exit plan for us.
During the correction we can go long based on H1 hidden divergence for example, false breaks, trend line..Whatever comes first and provides a good risk reward ratio for our setup.
Stop Loss – below last low created.
Targets – as first target we can use 1.9000 level, final target 2.0000. Of course watch for opposite divergence to form which will be an early exit plan for us.
