Quick trade, do not hold. Right now is on the high side of the triangle.
Valid for the next 8 hours. TP and SL in the graphic, it is a major support zone in the 4H graphic.
Low volume and ranging price should be a predictable movement. +1.52% risk ratio Supply and demand areas as analysis.
Long wick and upward channel makes me go long with a relative tight stoploss. This is originally a short trade, if target is hit and 1D graph conditions are good enough, I will keep it open until later.
Easy trade with entry on a support level, of course quick exit reaching 20 EMAs, don't over think it's just a quick trade.
Price action and indicators converging to the upside, this analisys is backed up on 1D chart which holds the price above the 10 daily EMA.
This 1h chart is based primarily on the 4H chart. On 4H chart there's some time yet for Stochastic to form a bottom and rebound on resistance. Market and this coin is bullish right now so I don't have any reason to think of a drop as long as BTC holds 55-52k.
If you're shorting this too, it would be good to close quickly after 50% profit.
Easy channel and stochasting backing up the strategy.
Very predictable movement following the trending books that you can buy anywhere. Rejected by the Moving Average and with a clear direction. Happy trade :-)
Seems easy, every indicator is signaling the expected rebound in the support area, time to buy for me.
There's a solid uptrend support but also a solid downtrend support, I chose the latter because the overall look for GBPUSD on 1D chart in my opinion is to the downside. If you check your MACD indicator you'll see what I mean on 1D. Let's see what happens.
Maybe I precipitated going long before the donwtrend channel breaks, but I'm confident enough to go long until my main objective 1.32100 MACD and RSI are showing signals to go long, the channel also rejected the downward movement and every other currency is reflecting a strong dollar. Objective should be reached in 9 days or less.
What else to expect? Price got brutally rejected at support like it did in the past. This will entry will last about two months but I'm pretty sure it will reach take profit :-) This trade seems to be very profitable, very tempting, isn't it?