This is a crowded chart, i know. But this opportunity is just so stuffed with goodies!
- We have an extremely strong resistance level (black line with blue boxes)
- Bearish trendline (black)
- Oversold RSI (14) with divergence (red line)
- Pinbar
- AB=CD pattern (blue lines)
- Fibonacci cluster (.5 and 1.32)
- Pinbar-ish candle
This looks really good as the confluence is extreme. One can take a trade with 1:5 risk:reward or a more conservative trade of 1:2. On the 1 hour we have a doji + bearish candle which means i will open this trade right now. And as usual: Hold your thumbs!
- We have an extremely strong resistance level (black line with blue boxes)
- Bearish trendline (black)
- Oversold RSI (14) with divergence (red line)
- Pinbar
- AB=CD pattern (blue lines)
- Fibonacci cluster (.5 and 1.32)
- Pinbar-ish candle
This looks really good as the confluence is extreme. One can take a trade with 1:5 risk:reward or a more conservative trade of 1:2. On the 1 hour we have a doji + bearish candle which means i will open this trade right now. And as usual: Hold your thumbs!
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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.