Trade idea - USDHUF Long

Aug 16

4H

Corrective approach towards entry zone .

-68 Fibonacci completion aligning with entry zone.

Ascending trend line holding up the price.

= Buy limit.

DXY makes sense for a Long as well.

1% risk.

Aug 16

Note

MONTHLY

Bullish M pattern potentially in play.

Clear support & resistance zone is there.

Aug 16

Note

WEEKLY

Inverse Head & Shoulders pattern potentially in play.

Clear support & resistance zone is there.

Aug 16

Note

DAILY

Bullish impulse: indication.
Still trending down making LLs / LHs.

Inverse Head & Shoulders pattern: confirmation.

Clear support & resistance zone is there.

Aug 16

Note

Changed risk exposure to 0.5% as it is Friday afternoon.

Aug 16

Trade active

Active

Aug 16

Trade closed: stop reached

-0.5%.