AO showing divergence,price attempting 1.20500 psychological level,price printed a bullish engulfing candle,price broke above a supply....entry is the failed supply zone........i believe this to be a retracement..care your money management....
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this signal has over 6 confluences and should hold 1) AO made bullish Divergence 2) AO crossed above zero line 3) Price printed Bullish engulfing close to 1:20500 psychological level 4)price reacting to 1:20500 psychological level 5)Price broke past a supply formation 6) Price created a Demand formation around 1:20500
entry Point is 1:20500
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it has been almost two hours since this trade and the market is still in one place...i had to close since it is just the beginning of the week..i suppose many traders aren't trading so there is low momentum.....lets hope price continue to rally around 1:20500 till tomorrow