Have located a potential bear flag on the 4 hourly, although daily momentum is heading down with LLs and LHs.
Waiting to see if the daily EQ can hold. If we break out of this bear flag to have a shot at the next supply zone.
If daily EQ cannot hold and we break below then i am looking at following trend down to the next demand zone.
Either way i will need a break and retest with bullish or bearish momentum depending on which way we break to confirm my entry for either scenario.
Stop loss will be set above / below previous market structure once we get an entry.
I will have a total of 2 Take Profits for both trades, one roughly in the middle with my final at supply or demand.
Trade should take approx a day or 2 to confirm an entry.
I am expecting 4-6 days for trade to play out so around a week in total from time of writing.
Chart by Phil Roberts.
Waiting to see if the daily EQ can hold. If we break out of this bear flag to have a shot at the next supply zone.
If daily EQ cannot hold and we break below then i am looking at following trend down to the next demand zone.
Either way i will need a break and retest with bullish or bearish momentum depending on which way we break to confirm my entry for either scenario.
Stop loss will be set above / below previous market structure once we get an entry.
I will have a total of 2 Take Profits for both trades, one roughly in the middle with my final at supply or demand.
Trade should take approx a day or 2 to confirm an entry.
I am expecting 4-6 days for trade to play out so around a week in total from time of writing.
Chart by Phil Roberts.
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.