Hi guys,
this morning we could have a chance to get involved in this trade. Now i'm going to explain you why:
first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg.
In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence.
An additional clue could be the psychological level price is testing (1,6700).
I'm waiting to see how the next candle will be.
Keep you updated.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this morning we could have a chance to get involved in this trade. Now i'm going to explain you why:
first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg.
In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence.
An additional clue could be the psychological level price is testing (1,6700).
I'm waiting to see how the next candle will be.
Keep you updated.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached
Boom! Both targets hit!
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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.
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.