Short
Uptrend broken. Jan. S4 Floor Breakout
Price broke the monthly and weekly floors S4 (L4) and is likely to end the month at S5.
Now we see a pullback to weekly S3 before the crash which should follow tomorrow.
Weak uptrend had also been broken. Tom Demarks breakout projection sends us even lower. However, at the moment we target Monthly and Weekly S5 which coincide with Point of Release to the left. By Demark criterias Breakout is OK.
NOTE, there is strong suppport at yearly S1 at 1.1266 (bottom of Yearly S1-R1 Opening Range, coincides with weekly S4), that is exactly where price rejected on Tuesday 25/01/22 though it pierced through it. Price can also pullback to monthly S3 / Trendline Retest before the crash.
DISCLAIMER:
FOR EDUCATIONAL PURPOSES ONLY! TRADING INVOLVES RISK.
You are alone solely responsible for your trading decisions!
Now we see a pullback to weekly S3 before the crash which should follow tomorrow.
Weak uptrend had also been broken. Tom Demarks breakout projection sends us even lower. However, at the moment we target Monthly and Weekly S5 which coincide with Point of Release to the left. By Demark criterias Breakout is OK.
NOTE, there is strong suppport at yearly S1 at 1.1266 (bottom of Yearly S1-R1 Opening Range, coincides with weekly S4), that is exactly where price rejected on Tuesday 25/01/22 though it pierced through it. Price can also pullback to monthly S3 / Trendline Retest before the crash.
DISCLAIMER:
FOR EDUCATIONAL PURPOSES ONLY! TRADING INVOLVES RISK.
You are alone solely responsible for your trading decisions!
Trade closed: target reached
Amazing trade! I made 2 entries, second one with bigger lot size
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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.