Hi guys,
today i want to talk about why i'm going long on this pair. Starting from our daily analysis, you all can see that price is testing a former level of resistance that now can turn into support. In addition to that, we can also see the RSI is in oversold condition and the price has created an harmonic pattern called Gartley. Going down on lower timeframes, we find again an RSI oversold (4H) and also a pinbar formed right after the completion and an engulfing kicker coming few candles after it.
With all these things, i'm confident to go long with stops and targets as shown.
If you have questions/ideas, feel free to comment beneath.
Otherwise, see you in the next chart!
today i want to talk about why i'm going long on this pair. Starting from our daily analysis, you all can see that price is testing a former level of resistance that now can turn into support. In addition to that, we can also see the RSI is in oversold condition and the price has created an harmonic pattern called Gartley. Going down on lower timeframes, we find again an RSI oversold (4H) and also a pinbar formed right after the completion and an engulfing kicker coming few candles after it.
With all these things, i'm confident to go long with stops and targets as shown.
If you have questions/ideas, feel free to comment beneath.
Otherwise, see you in the next chart!