PIP is potentially bottoming out at 2.9 as it continues to consolidate around that area.
Price congestion also shows a couple of Doji candles and Inverted Hammers - considered as potential reversal signal and bottoming out pattern when found near a major support area.
*Bullish divergence on RSI.
*Immediate resistance at 3.6 (previous support prior to breakdown that now becomes a resistance).
Trading Plan
- Buy near support (2.9)
- Near term TP = 3.6
- Stop-loss just points below 2.6 for around 1:2 risk/reward ratio.
No comments:
Post a Comment