In the 4hr TF:
1) Bullish kumo breakout [strong buy]
2) Stochastic shows overbought [buy if strong trend OR sell if reversal]
3) Weak TK cross [weak buy]
In the daily TF:
1) Wide gap between TK lines [strong buy]
2) Flat kijun sen [strong buy]
3) Price below kumo [sell]
4) Bearish future kumo [sell]
5) Good risk to reward ratio [buy???]
6) %K intersects %D from below
7) Stochastic divergence shows increased bullish momentum
8) Current Stochastic value = 61
Is this the end of the downward trend and the beginning of a bull's run? In 4hrs time, CAD CPI data would be released and could invalidate our trade idea. Nevertheless, it is probably worth a try due to the good RR.
TP = 0.9460
SL = 0.9275
1) Bullish kumo breakout [strong buy]
2) Stochastic shows overbought [buy if strong trend OR sell if reversal]
3) Weak TK cross [weak buy]
In the daily TF:
1) Wide gap between TK lines [strong buy]
2) Flat kijun sen [strong buy]
3) Price below kumo [sell]
4) Bearish future kumo [sell]
5) Good risk to reward ratio [buy???]
6) %K intersects %D from below
7) Stochastic divergence shows increased bullish momentum
8) Current Stochastic value = 61
Is this the end of the downward trend and the beginning of a bull's run? In 4hrs time, CAD CPI data would be released and could invalidate our trade idea. Nevertheless, it is probably worth a try due to the good RR.
TP = 0.9460
SL = 0.9275
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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.