Currently, it appears to be a buy signal on the lower timeframe. On the daily timeframe, it has already touched the support level and has the potential to rise up to 2744.10.
To identify the buy signal, I will wait for a retest at the 5-minute support level. At that point, I'll look for a double bottom formation.
Once the price breaks the 2704.17 level on the 5-minute chart, I'll open a buy trade.
Key Point is
To identify the buy signal, I will wait for a retest at the 5-minute support level. At that point, I'll look for a double bottom formation.
Once the price breaks the 2704.17 level on the 5-minute chart, I'll open a buy trade.
Key Point is
- Wait for the right moment: Be patient and wait for the right timing before making your move.
- Reevaluate on 5-minute support: Check the 5-minute support level to confirm your next step.
- Surpass the entry level (5-minute trend): Aim to break past the entry level based on the 5-minute trend.
- Identify the signal candle: Look for the signal candle as it crosses the entry level and observe the buying pressure on it.
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.