For Trend Line Breaks, Wait For Time and Space To Occur. In this example, the trend line was broken on August 3rd, 2022 at 15:00. After the break, the Pullback Trader would wait till price retraces back to the broken trend line for an entry. Price retraced back to the trend line on August 11th, 2022 at 19:00. The Trader would have placed their entry at that...
Enter the market with a short position at Pivot Point Level P (0.999). If a pin bar or rejection candlestick doesn't occur at that price point, then consider discarding this trade Idea.
AUDUSD; Pivot Point; Ascendibg Parallel Channel; Pin Bar; P (0.694); R1 (0.694); Entry 0.69471; Target R1 (0.703); RR 4.74;
P (1.219); Channel Support; Pin Bar Candlestick; Entry Price 1.22150; Take Profit Price 1.229
USDZAR Engulfing Candlestick Pattern; P (17.06); P (17.06);
LNKUSD Confluence: Pivot Point P (6.58); Channel Support; Pin Bar
Resistance (1.70395); Pin Bar
P (0.687); R1 (0.687); R1 (0.688)
P (1.12) ; EMA 10 ; EMA 20 ; Engulfing Candlestick
P (0.853) ; Exponential Moving Average Period 10 ; Exponential Moving Average Period 20
Confluence P (1.413) ; Channel Support ; Engulfing Candlestick Entry Price 1.42404 Target Price R (1.444)
Confluence: P (1.54) ; Channel Support Entry Price 1.55161 Target Price R (1.602)
Confirmations: R1 (0.804); Channel Resistance; P (0.819); Horizontal Resistance
P (83.71) ; Channel Resistance || Candlestick wick high touched Pivot Point Level and Channel Resistance.
Price rejected ascending parallel channel support level. (Date Wednesday 2023-Jan-04, Price 1.54979) Expect EURAUD price to increase for the next 5 trading days.
R1 (0.688) ; R1 (0.687) ; R1 (0.686) ; Channel Resistance ; Price rejected 3 Resistance levels from the Pivot Point Indicator. The currency market is bearish.