Long or Short: Long setup on the Weekly chart
Entry Point: 1.5590
Stop Loss: 1.5540
Profit Target: PT1: 1.5640 ; PT2: 1.5690 ; PT2: 1.5740
Reward-to-risk Ratio: 1:1, or 2:1 or 3:1
Risk involved: 1% of account
Indicators: Support and resistance,stochaustic,rsi,trendline
Rationale:
Technical - potential break of trendline coming from 1.6129 dated 8-1-2011 is broken on 4hr chart. On weekly chart Regular Bullish divergence is in progress at major support level and white marubozo
Trade Adjustments:
After hitting first tp close half position of Trade