Main Items we can see on the 4h chart:
a)Price broke out from a descending trendline and started a Wedge Pattern formation.
b) Wedge Patterns are considered reversal structures.
c) The Wedge Pattern is supported by a major support/resistance level and the broken descending trendline.
Daily view:
Based on this we expect the price to continue the bullish movement towards the next resistance level at 0550.
Our parameters are:
-Entry price: 0420
-Stop price: 0360
-Take Profit : 0550
If the Stop is hit, we will analyze if the intention of the price was to make a fake out or a bearish movement, after that we will consider or not a re-entry.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
a)Price broke out from a descending trendline and started a Wedge Pattern formation.
b) Wedge Patterns are considered reversal structures.
c) The Wedge Pattern is supported by a major support/resistance level and the broken descending trendline.
Daily view:
Based on this we expect the price to continue the bullish movement towards the next resistance level at 0550.
Our parameters are:
-Entry price: 0420
-Stop price: 0360
-Take Profit : 0550
If the Stop is hit, we will analyze if the intention of the price was to make a fake out or a bearish movement, after that we will consider or not a re-entry.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
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.