This setup using 3 technical analysis.
1.An aligned acceding channel with candle stick.
2.A force that move the candle stick.
3.A Fibonacci support level for an entry level, This entry use 0.236 (1.94055) level of a recently price structure.
In my point of view, at current stage candle seem to stuck at the support/resistance line (SL Line) after the weekly close. This create a probability of re-traced down a bit before move up to form Higher-high (HH) as shown on chart. I believe since the channel of and the pattern of the chart are well form and clear it is a good uptrend.
My Long Configuration::
Long Entry @ 1.94000 (This number come from a round-up number of support line as well as from Fibonacci level)
SL :: @ 1.9255 (This number come from a swing-low of pattern that bound form the SL Line as shown in "red smiley face")
TP :: @ 1.99035 (This number come form last swing-high as shown in "pink smiley face" as well as form fibonacci level of 0.618(1.99147) )
1.An aligned acceding channel with candle stick.
2.A force that move the candle stick.
3.A Fibonacci support level for an entry level, This entry use 0.236 (1.94055) level of a recently price structure.
In my point of view, at current stage candle seem to stuck at the support/resistance line (SL Line) after the weekly close. This create a probability of re-traced down a bit before move up to form Higher-high (HH) as shown on chart. I believe since the channel of and the pattern of the chart are well form and clear it is a good uptrend.
My Long Configuration::
Long Entry @ 1.94000 (This number come from a round-up number of support line as well as from Fibonacci level)
SL :: @ 1.9255 (This number come from a swing-low of pattern that bound form the SL Line as shown in "red smiley face")
TP :: @ 1.99035 (This number come form last swing-high as shown in "pink smiley face" as well as form fibonacci level of 0.618(1.99147) )