EJ has been in a very clear ascending channel. On the daily timeframe, all eyes are on how price reacts around the 124.00 handle.
Entries will only be taken on the daily candle closures and this is because of the amount going on. Let us explain.
Around that 124.00 handle, we have the daily 50EMA & 800EMA - this is very rare that these two EMA's are ever near each other. Also, we have the ascending trendline and the 23.6% Fibonnaci Level.
Buying confirmations: Price to push into this area to offer a good Risk Reward entry but for the support to hold clearly.
Selling confirmations: A break and close below the above mentioned confluences.
Entries will only be taken on the daily candle closures and this is because of the amount going on. Let us explain.
Around that 124.00 handle, we have the daily 50EMA & 800EMA - this is very rare that these two EMA's are ever near each other. Also, we have the ascending trendline and the 23.6% Fibonnaci Level.
Buying confirmations: Price to push into this area to offer a good Risk Reward entry but for the support to hold clearly.
Selling confirmations: A break and close below the above mentioned confluences.
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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.
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.