A strong bullish pin off of a key support

A strong bullish pin formed off of a key support level that formed from the last swing low. Volume increased into the bar signalling increased buying into the setup. Also formed at a key price level 0.75.

İşlem aktif:

I am long @ .7490. Entered at a 50% retrace of the pin bar.

Yorum:

This is far from a sure bet due to the strong bearish trend in the short term, but still a very nice reversal signal with reversal potential.

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There has been some short term bullish development with a double bottom that has formed over night. View my analysis on that setup here