Table of Contents
Recommendation for USD/PLN: Buy
Buy Stop : Above 3.76
Stop Loss : Below 3.61
On the daily timeframe, USDPLN: D1 has been traded narrowly for a month. Now it is close to the resistance line of the short-term downtrend. It must be broken upward before opening a position. A number of technical analysis indicators generated signals for further growth. We do not exclude a bullish movement if USDPLN rises above the last upper fractal, Parabolic signal and upper Bollinger band: 3.76. This level can be used as an entry point. We can place a stop loss below the last bottom fractal, the low since June 2018 and the lower Bollinger band: 3.61. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (3.61) without activating the order (3.76), it is recommended to delete the order: market sustained internal changes that were not taken into account.
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