CHECKLIST: 1. Daily EMA's: Bearish 2. Hourly EMA's: Bearish 3. Retraced to EMA's: YES 4. RSI: 5. Greater than 50% retrace: 6. Hourly confirmation cnadle: YES 7. Risk/Reward: more than 1:1 8. Near Major resistance: YES
My analysis on GBPCHF is 1. Daily Ema's: Bullish 2. Hourly Ema's: Bullish 3. Retraced to Ema: Yes 4. RSI: @ 20 lvl 5. Greater than 50% retrace 6. Hourly confirmation candlestick 7. more than risk/reward 1:1 8. Neat major support
LONG - GBPUSD - 1HR (03/12/24) My analysis on the GBPUSD pair is: 1. on a daily chart, we have a bullish trend 2. on a hourly chart, we have a bullish trend 3. it has almost 50% retracement, that said, means a good pullback 4. RSI is at 20 level. It means it is oversold b the traders 5. Hour conformation candle is confirm 6. risk to reward is more than 1:1 7....
I am currently doing a NASDAQ analysis and will start on a monthly timeframe basis then break it down to smaller timeframe. Maybe i am right or im wrong... :)