Pin Bar
XPTUSD Entry Price Between Fibonacci 0.236 and 0.382Watch for an entry near Fibonacci Retracement Level 0.236 (Price 1256.302) and Resistance Level Turn Support at Price 1255.450.
Wait for a price action signal in the form of pin bar at Fibonacci Level Area 0.236 and 0.382. You will want to enter a buy order in the area of Exponential Moving Average Period 10 and Exponential Moving Average Period 20 "AND" the area of Fibonacci Retracement Level 0.236 and 0.382.
So, for confluence, use the following factors:
Look for a Pin Bar in a pull back at
* Fibonacci Retracement Horizontal Level (0.236 0.500)
* Support Resistance Horizontal Key Level (1255.450)
* Support Resistance Diagonal Level (Trend Line)
* Dynamic Support Resistance (EMA 10 EMA 20)
EURZAR Hit Take Profit At 17.32788 | What's Next For This Pair?17.32788 Resistance Level Turned Support is the next level to watch for a price action signal in the form of a pin bar or engulfing candle.
The initial entry for this trade idea came on 26-Apr-2021. The entry was the pin bar at time 16:00.
Entry 17.23070
Stop Loss 17.19988
R-Multiple = 3.15R
Note: Stop loss level was below the EMA 10, EMA 20, and converging trend lines.