On the daily,price is currently resting on the lowest extreme of the red pitchfork ( Modified Schiff ). It can be seen that on the previous 2 occasions when price tested the same support, it held and price bounced off it . My target is the meeting point of this red ( modified schiff) pitchfork and the second black ( Andrews ) pitchfork . Such convergence points have shown to be powerful magnets of price on previous occasions on this chart.
Also, on the 4H chart, price first broke the above mentioned support ( not by much though ) ,and formed a Morningstar just below the line . Price zoomed back above the line , only to slowly retrace . Now, there is a doji, followed by a hanging man, indicating possible reversal.
A close , on the 4H or Daily chart, above the previous candle's high would be the trigger to go long.
Place your stops just below the previous swing low, or , if you are a bit more aggressive , just below the support.
Also, on the 4H chart, price first broke the above mentioned support ( not by much though ) ,and formed a Morningstar just below the line . Price zoomed back above the line , only to slowly retrace . Now, there is a doji, followed by a hanging man, indicating possible reversal.
A close , on the 4H or Daily chart, above the previous candle's high would be the trigger to go long.
Place your stops just below the previous swing low, or , if you are a bit more aggressive , just below the support.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.