Considering the fact that this pair is trading above the 200 SMA on both the daily and 4 hour timeframes, I'm looking for buy entry areas in this ascending channel formation.
On the chart I pointed out several areas which basically are along the ascending trendlines. If at any point I receive an alert of price action tagging one of these trendlines, I'll look for a potential long entry.
Now of course I can't expect to always be right and hopefully this isn't one of those setups where I'm wrong, so for that reason if PA decides to break and hold below the lowest ascending TL, I'll exit and book my loss.
That's it - That's all
Merry Christmas!
On the chart I pointed out several areas which basically are along the ascending trendlines. If at any point I receive an alert of price action tagging one of these trendlines, I'll look for a potential long entry.
Now of course I can't expect to always be right and hopefully this isn't one of those setups where I'm wrong, so for that reason if PA decides to break and hold below the lowest ascending TL, I'll exit and book my loss.
That's it - That's all
Merry Christmas!
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.
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.