This analysis is over the long-term time frame - weekly.
Weekly looks bearish, buy zone is between .006 & 0.009 - a widespread but…
price action will dictate entry.
I trade 3 patterns:
1. Bottom feeder pattern (Long)
2. ABCD pattern (Long)
3. Run & Fade pattern (Short)
4 signals needed to pull the trigger: (triggers come from 1-minute time frame once the time frame I’m trading is in play - in this case: weekly
1. a burst in price (catalyst) - how will people react to news??? does it have enough push behind it???
2 & 3. a measurable entry point – (after price prints) identifiable exit level if wrong - know where to get out if wrong.
4. targets taken from resistance levels across all time frames (know your time frame/ identify possible bumpers)
Bumpers=any potential price stalls/ halt in price action.
measurable= peaks & valleys printed price
Weekly looks bearish, buy zone is between .006 & 0.009 - a widespread but…
price action will dictate entry.
I trade 3 patterns:
1. Bottom feeder pattern (Long)
2. ABCD pattern (Long)
3. Run & Fade pattern (Short)
4 signals needed to pull the trigger: (triggers come from 1-minute time frame once the time frame I’m trading is in play - in this case: weekly
1. a burst in price (catalyst) - how will people react to news??? does it have enough push behind it???
2 & 3. a measurable entry point – (after price prints) identifiable exit level if wrong - know where to get out if wrong.
4. targets taken from resistance levels across all time frames (know your time frame/ identify possible bumpers)
Bumpers=any potential price stalls/ halt in price action.
measurable= peaks & valleys printed price