We are still in a strong bullish trend and currently a nice correction has been formed lying on a major, historical and daily support. Therefore we might see a bounce from this support (middle black line).
Trade setup: - Consolidation has been formed right on the major support - Double bottom (with 2 long wicks) has been formed - Flag pattern has been formed - Put a BUY LIMIT order on the breakout of the small consolidation area (which is also the flag pattern breakout) -Stop loss 5 pips below the lows of the double bottom candles - Take profit is on the next major resistance line - Risk reward 2:1
Hope you enjoyed my analysis.
Feel free to leave a comment or a like.
Cheers,
Sebastiano
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Order already triggered. A nice green candle has broken the consolidation, therefore it is a good sign.