On D1 I see a bullish trend that paused/halted and became a ranging market. Recent rejections show me that this pair may head up again, at least to the top of the range (143.90). The s/r zone I have drawn has held up so far and today we had a deeper penetration of the zone too. We also have a close above the zone with a pin bar candle. This gives me a bullish bias.
The H4 chart looks interesting although we are below the 50ema. The last 15 candles have been around the s/r zone, We had a swing low and then a lower low within the zone. If we see a higher low next, that would confirm my bullish bias and I would like to take a long.
We don’t have a clear uptrend, but this analysis does make sense to me. This could be treated as a range trade that may turn into a trend continuation.
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Always use sound money and risk management and stay patient in all your trades.
The H4 chart looks interesting although we are below the 50ema. The last 15 candles have been around the s/r zone, We had a swing low and then a lower low within the zone. If we see a higher low next, that would confirm my bullish bias and I would like to take a long.
We don’t have a clear uptrend, but this analysis does make sense to me. This could be treated as a range trade that may turn into a trend continuation.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management and stay patient in all your trades.
Trade active
Price moved exactly as per expectations. However a strong follow though has not happened yet. My trade is still open.
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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.