Legend for price level, trend line, and rectangle:
Dark Gray > Weekly Level
Blue > Daily Level
Red > H4 / H1 Level
Green > M15 / M5 Level
Yellow > M1 Level
D1, H4 and H1 are all showing the overall trend is still up with price is holding above MA200 and major D1 support area 1.11044 - 1.11400.
Currently in H1, price starts to forming Higher Low and Higher High formation, indicating the first initiation of an uptrend.
Trade Plan 1:
If price pull back to previous resistance area turns to support 1.11603 - 1.11691 (confluence with MA200) and rejected up, can consider to long the market to follow the potential trend continuation to the upside.
With Stop Loss 33 pips and Target Profit 99 pips, the potential trade offers 3.00 Reward-To-Risk Ratio.
Trade Plan 2:
If price pull back deeper to major support area 1.11322 - 1.11432 and rejected up, can consider to long the market to follow the overall uptrend.
With Stop Loss 33 pips and Target Profit 125 pips, the potential trade offers 3.79 Reward-To-Risk Ratio.
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