There are numerous confluences that indicate that the pair may be going long
Here's why;
- Price is at a major weekly support level
- There is an M formation and hence we are waiting for the restest of the neckline at 1.9125
- There is a strong closure break out candle on the 4h. It has broken past 1.9020 which is a major liquidity level. I am waiting for a retest of the region before going long
- The 4h region is also a support level on the 1h timeframe. Waiting for a retest before price starts going North.
Here's why;
- Price is at a major weekly support level
- There is an M formation and hence we are waiting for the restest of the neckline at 1.9125
- There is a strong closure break out candle on the 4h. It has broken past 1.9020 which is a major liquidity level. I am waiting for a retest of the region before going long
- The 4h region is also a support level on the 1h timeframe. Waiting for a retest before price starts going North.
Trade closed: target reached
WENT EXACTLY AS PLANNED
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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.