Number one, we can find that there is a huge demand where the market couldn't close below a previous low, this demand resulted in the market breaking the structure and making a new long term weekly high, now the market is moving in a corrective waves which can look like a channel, this area is also a demand zone as well as AB=CD,
What can we do now? if you are trading long timeframes or short timeframes, we could wait few days and look at lower time frames, try to find confirmation/s depend on your preferred analysis. Enjoy!
What can we do now? if you are trading long timeframes or short timeframes, we could wait few days and look at lower time frames, try to find confirmation/s depend on your preferred analysis. Enjoy!
Note
So we can we more harmonic patterns occurring at the same area, we would like to see liquidity and bullish chart pattern when the market enter our area and then the continuation in order to take a long, HTF trendline break will be nice too!
Trade active
O LordGive us this day our daily bread,
And lead us not into temptation.
Trade closed: target reached
Oh lord and savior, thank you for your blessings
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.