wwzrd

wwzrd

Look left, structure leave clues. TP is at the white line in chart based on fib retracement.

wwzrd Updated 

Bullish engulfing on the 4-hour chart at the support level. White line at 1.30677 is previously a major resistance which is now a support.

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SL is set slightly above X and TP is set at 38.2 and 61.8 of fibo retracement.

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SL is set slightly above X and TP is set at 38.2 and 61.8 retracement based on fibo.

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SL is set at X and TP can be set at 38.2/61.8

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Previous movement indicating that it will probably make a reversal after hitting the prz.

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Stop loss should be placed above X

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Previous structure indicating a strong resistance level.

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Blue rectangle is the support level SL placed around 1.1150

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Entry is around 0.9334 and SL is 0.9160

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Blue line is a strong resistance level based on previous structure.

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Blue horizontal line previously acted as a resistance which can be clearly seen here.

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Nothing detailed here, just a trading idea based on candle formation, resistance level and trend lines. Yellow highlighted square shows a bearish engulfing candle which may result a trend reversal.

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Just a simple analysis in based on price action.

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You can clearly see that A and B is a resistance level and 3 is the completion of bullish three drive pattern which results a 1.272 extension of B. Second TP should be around 1300 if it breaks the trendline.

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If price breaks through the support, we'll wait for a retest around 58 before making an entry

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SL placed on previous support to maximize profit. Doji on 4hr tf for entry confirmation.

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Currently there's no detailed explanation for the pattern as it has not fully completed. Look at previous structure for PRZ