Short term Buy
On my side, I see a much bigger opportunity to SHORT this pair but right now will be a bad idea to do so due to various retail confirmations. If you understand price action very well, I hope this TOP-DOWN VIEW should be clear to you.
1. D1 TF shows a rising wedge pattern (BULLISH REVERSAL).
2. H4 There's a break of the D1 structure followed by a Bearish Flag pattern (BEARISH CONTINUATION).
3. H1 Within the H4 structure, there is a Bullish Flag pattern (BULLISH CONTINUATION). This structure formed after a fake break of the H4 Structure and failed to retest the trend line to continue Falling, this happens 10% of the time to trap traders on the wrong side of the market.
4. 15m TF is best used for entries after multiple confirmations.
For more information, feel free to chat with me.
1. D1 TF shows a rising wedge pattern (BULLISH REVERSAL).
2. H4 There's a break of the D1 structure followed by a Bearish Flag pattern (BEARISH CONTINUATION).
3. H1 Within the H4 structure, there is a Bullish Flag pattern (BULLISH CONTINUATION). This structure formed after a fake break of the H4 Structure and failed to retest the trend line to continue Falling, this happens 10% of the time to trap traders on the wrong side of the market.
4. 15m TF is best used for entries after multiple confirmations.
For more information, feel free to chat with me.
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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.