Reasons:
1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Overall up trending on shorter and longer time frame - will only be keen to take long positions to go with the trend
3. Prior resistance turned support level that coincides with EP level
Our Trade Setup will be:
EP: 59.05
SL: 58.55
TP: 59.55
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Overall up trending on shorter and longer time frame - will only be keen to take long positions to go with the trend
3. Prior resistance turned support level that coincides with EP level
Our Trade Setup will be:
EP: 59.05
SL: 58.55
TP: 59.55
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.