Weekly: Price broke through support Trend line
Daily: Bullish Divergence-RSI making higher lows, Respecting Demand zone @ 0.75000 & Support Trend line, Inverse Head & Shoulder off completed 3rd wave of extended 5th wave & Lower Band
4 Hour:Bullish Engulfing candle bouncing off 38.2 Fib
TP1: 0.76000 @ (Daily) 38.2 FIB aligned with (4Hour) -0.27 FIB
Price will most likely retest broken weekly support trend line before heading back down to complete extended 5th wave. Will be looking for a short set up around TP level as well.
FXLifestyle - Trade Your Future
Daily: Bullish Divergence-RSI making higher lows, Respecting Demand zone @ 0.75000 & Support Trend line, Inverse Head & Shoulder off completed 3rd wave of extended 5th wave & Lower Band
4 Hour:Bullish Engulfing candle bouncing off 38.2 Fib
TP1: 0.76000 @ (Daily) 38.2 FIB aligned with (4Hour) -0.27 FIB
Price will most likely retest broken weekly support trend line before heading back down to complete extended 5th wave. Will be looking for a short set up around TP level as well.
FXLifestyle - Trade Your Future
Note
Trade active
Price may retest triangle breakout first or break through Inverse Head & Shoulder neckline first and then retest the neckline. Adding 2nd entry on retest of either.
Note
If price breaks 0.270 Extension, next TP will be 0.618 Extension
Trade closed manually
Closed to protect profits. Will reenter if price doesn't break inverted H & S neckline and bounces off it
Trade closed: target reached
Beautiful! Now lets watch and see if we can make money the opposite way now
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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.
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.