I originally initiated a long position at 1.0854 on November 16th. After the huge bullish day on the EUR/USD on November 14th, I decided that the potential run to the next long term median level (1.1500) was on the table and although there was a threat of a pullback and I would have to endure some drawdown, the Bulls should uphold support around the median level at 1.0800.
Another reason for wanting to hold was the small “Hidden” Divergence between price and the MACD which thus far has been working out.
I will continue to hold this swing trade as long as price stays above 1.0800 and target 1.1500.
There is a short term 2023 median level that I am aware of at 1.1100, however since the levels for 2023 are coming to an end, this should not matter. It remains to be seen going into 2024.
Another reason for wanting to hold was the small “Hidden” Divergence between price and the MACD which thus far has been working out.
I will continue to hold this swing trade as long as price stays above 1.0800 and target 1.1500.
There is a short term 2023 median level that I am aware of at 1.1100, however since the levels for 2023 are coming to an end, this should not matter. It remains to be seen going into 2024.