For now, this is only an idea, with no confirmation.
We all know that the top sloping resistance is most likely the MACRO level resistance as well, however how we approach it is also an opportunity and also a risk.
My gut feeling is we will have another consolidation just under the resistance for another imminent breakout, with 50/50% either way.
The next 4 hours and the coming days\weeks will provide more data if this hypothesis holds true.
Note: Red sections symbolise major resistance point to overcome. They require either a) a consolidation below it or b) precise\convincing break though.
In each case, we need a open and closing of a daily candle above it to enter as a rough rule.
Cheers,
SSari.
From previous post
We all know that the top sloping resistance is most likely the MACRO level resistance as well, however how we approach it is also an opportunity and also a risk.
My gut feeling is we will have another consolidation just under the resistance for another imminent breakout, with 50/50% either way.
The next 4 hours and the coming days\weeks will provide more data if this hypothesis holds true.
Note: Red sections symbolise major resistance point to overcome. They require either a) a consolidation below it or b) precise\convincing break though.
In each case, we need a open and closing of a daily candle above it to enter as a rough rule.
Cheers,
SSari.
From previous post
Note
If your looking to enter, I would keep an eye out for the 10 EMA on the 4 HRLYNote
Now its hit the last fib.fan ... bullish it is. Note
As we hit the key resistance level, unless there was a concise breakthrough, then it will consolidate and then break. Hence I am expecting thisNote
4 HRLY chart: gives a better perspective > RSI supports the patternNote
Bullish divergence occurring in the 30 min. Important pivotal point here which requires it to stay within the assumed bearish wedge.Note
Note
Broke down quicker than I thought...the consolidation under the main resistance wasn't long ... lesson learnt. Opportunity for a quick short... look for the bullish divergence in the 30 min to an hour.Note
The above didn't work out, and I didn't go in because I did not see a bullish divergence above the 30 min time line. However now, I'm watching this, a bullish divergence in its infancy. Need to keep an eye out for this
Trade closed: stop reached
looking back, I had no idea what to make of it
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.