Price has recently made a new bullish impulsive wave and formed a HH breaking above the previous swing high, which has been followed by a corrective move, the retracement is currently testing the 0.618 fib in confluence with the horizontal 4H demand, we have a beautiful wave ABCD potentially forming and i am looking to capitalise on the next impulsive wave.
HOWEVER everything on the 4H timeframe is currently bearish for a entry confirmation we need to see a 4H candle CLOSE above the identified resistance to confirm the change of character from bearish to bullish on the 4H timeframe, ONLY if the market satisfies our entry rules we will take this potential long swing trade
REMEMBER this is not a valid setup until the 4H CLOSES above.
HOWEVER everything on the 4H timeframe is currently bearish for a entry confirmation we need to see a 4H candle CLOSE above the identified resistance to confirm the change of character from bearish to bullish on the 4H timeframe, ONLY if the market satisfies our entry rules we will take this potential long swing trade
REMEMBER this is not a valid setup until the 4H CLOSES above.
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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.