SUPRIYA | SWING | LONGBase Over Base
20 EMA is following price, thus, showing momentum
Price has room to move
20emadaily
SUPRIYA | SWING | LONGBase Over Base
20 EMA is following price, thus, showing momentum
Price has room to move
EURUSD, AB=CD at 61% Fib, at 4H chart 200EMA & at 20 Daily EMA A potential area for a low-risk high-reward trade.
The area marked is an AB=CD move that will happen above a prior high which means stops might be taken which will provide ample liquidity for a move down.
Additional confluence - this happens at the 61% Fib retracement level, and also the 200EMA of the 4-Hour Chart. Overall the price is at the 20 Daily EMA area so hope for a bounce from there.
One option is to enter at the level with a Stop Loss based on the ATR. I am mindful that the 78% retracement is also great for a short, but we might miss the move. Another option is to wait for some price action confirmation in the form of a good entry bar, but it will require a bigger stop loss.
Gartley 222 or ABCD at 78% retracementI am placing an order where the red box is. Entry is the upper side and stop loss is the opposite end.
Placing my order behind a previous low where naturally stops will reside - this low is also a previous daily bar low. My entry and where the AB=CD ends is at the 20 Daily Moving Average so expect a bounce from there.
The fans of harmonic patterns can recognize this structure as a Gartley 222.
Hopium?Inverse head and shoulders. Rejected the neckline, wait for a clear break out of the 775. Crossed up the 20ema and when TSLA does this it tends to go ballistic. I would see it run to the area of resistance of the 20ema. In addition to that DMI is bullish right now
