FX.co ★ DOTUSD Potential For Bullish Rise to previous swing high

Description :

Looking at the H4 chart, my overall bias for DOTUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. With price tapping into my buy entry at 6.124, where the overlap support and 23.6% Fibonacci line is, we are looking to take profit at 7.415, where the previous swing high is. Stop loss will be placed at 5.704, where the previous overlap support is.

Trading Recommendation

Entry: 6.124

Reason for Entry: Overlap support

Take Profit:7.415

Reason for Take Profit: Previous swing high

Stop Loss: 5.704

Reason for Stop Loss:

Previous overlap support