Scalp straight channel to retets resistance
Presented is a 1 hr chart buy scalp idea.
As I mapped out we can see a straight channel in play between resistance of 1.68100 and support of 1.66700. If you trade this pair we know we get choppy movements so patience is a must to retest top resistance.
I am relying heavily on RSI and SRSI movement. SRSI is correcting within oversold zone with current bullish movement while RSI is breaching above 50. If MACD/SIGNAL line correct before crossing 0 line we add ore sentiment towards a top channel resistance breach. We can keep scalp trading within channel until there is a significant break with continuation out of channel in either direction.
Please comment with thoughts and ideas. Thank you.
As I mapped out we can see a straight channel in play between resistance of 1.68100 and support of 1.66700. If you trade this pair we know we get choppy movements so patience is a must to retest top resistance.
I am relying heavily on RSI and SRSI movement. SRSI is correcting within oversold zone with current bullish movement while RSI is breaching above 50. If MACD/SIGNAL line correct before crossing 0 line we add ore sentiment towards a top channel resistance breach. We can keep scalp trading within channel until there is a significant break with continuation out of channel in either direction.
Please comment with thoughts and ideas. Thank you.
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.