Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Price is under attack from late 2008 and is plunging week after week without any concerns. Now it’s promising that we can see a bullish trend for around 15days. Here I want to write some words about the intraday chart of this pair as I think there are some good opportunities to catch some pips.
In the H4 chart below you can see that as we have a strong bullish trend, moving averages are acting as good support areas. Price is going to bounce off the river again in the four hour chart and indicating a good long trade.
But before considering to go long wait for the price to go above the H1 trendline:
So for the buying action wait for the price to go above the H1 trendline and for the selling action wait for a H4 close below the H4 trendline.
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Winner’s Edge Trading, as seen on: