There is a Fair Value Gap ( FVG ) on the 4 Hour TF at 1.07508. The Entry Should be at 1.07508 at the Entry of the FVG Because We Don't Want to Miss the Entry as Many Of The Times Price Respects the FVG By Just Touching it Slightly and It Goes Up/Down Passively , Stop Loss at 1.07156 Below the Fair Value Gap's Swing Low Because We Don't Want to Get Stopped where most of the Buy Stops are and Take Profit at 1.08944 Because there was Massive Selling Pressure at the Price and The TP Is actually quite Random Because I just Saw The RR to Be 4:1 and Hence There is Not Much Analysis Done as to Where the TP Should be.
Anyways As a Beginner I'm Just Documenting My Analysis :)
Anyways As a Beginner I'm Just Documenting My Analysis :)
Note
The RSI is also on 14 Indicating a Potential Trend Reversal and Showcasing a Discounted or Oversold Market.
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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.