Having looked at the daily time frame (will need to be more careful next time), I managed use trend lines to find patterns. I used these trend lines to find support and resistance lines.
When I completed this I looked at the 4 hour view, and repeated the process. I would set my entry point at 1.2786 which is currently the support line on the daily time frame. I identified several engulfing candles/hammers; these indicated several reversals in the trend.Currently there is a Doji on the 4 hour time frame which indicates uncertainly/indecision. However when compared to the daily chart, there is a upward trend. I would therefore buy at the entry point already indicated above, and set my stop-order at the rules already set by myself.
When I completed this I looked at the 4 hour view, and repeated the process. I would set my entry point at 1.2786 which is currently the support line on the daily time frame. I identified several engulfing candles/hammers; these indicated several reversals in the trend.Currently there is a Doji on the 4 hour time frame which indicates uncertainly/indecision. However when compared to the daily chart, there is a upward trend. I would therefore buy at the entry point already indicated above, and set my stop-order at the rules already set by myself.
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.
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.