A strong bullish pin off of a key support

A strong bullish pin formed off of a key support level that formed from the last swing low. Volume increased into the bar signalling increased buying into the setup. Also formed at a key price level 0.75.

Zlecenie aktywne:

I am long @ .7490. Entered at a 50% retrace of the pin bar.

Komentarz:

This is far from a sure bet due to the strong bearish trend in the short term, but still a very nice reversal signal with reversal potential.

Komentarz:

There has been some short term bullish development with a double bottom that has formed over night. View my analysis on that setup here