greetings traders! a potential to make some nice profit today
starting with the obvious we have a clear bullish flag illustrated by the orange lines there is also some other factors that align with my bullish projection, first off price's current level in conjunction with the bottom line of the bullish channel and second is the red line of previously broken resistance likely turned support.
although this looks like a slam dunk proper risk management is essential, in the event of price making a strong move up through 1.245 level with a stop loss just below last swing low and take profit around the psychological level of 1.260, risk reward ratio of 2.
(if you saw some strong bearish signals in this setup that i may have missed please let me know as im always looking to avoid confirmation bias)
starting with the obvious we have a clear bullish flag illustrated by the orange lines there is also some other factors that align with my bullish projection, first off price's current level in conjunction with the bottom line of the bullish channel and second is the red line of previously broken resistance likely turned support.
although this looks like a slam dunk proper risk management is essential, in the event of price making a strong move up through 1.245 level with a stop loss just below last swing low and take profit around the psychological level of 1.260, risk reward ratio of 2.
(if you saw some strong bearish signals in this setup that i may have missed please let me know as im always looking to avoid confirmation bias)