1. Weekly, Bullish, price currently testing fractal support level
2a. Daily, although it broke through resistance, since then price has steadily retraced.
2b. The pin bar and bullish engulfing did not touch the bottom of the zone, or the 150 EMA, this is also a .5 Fib retracement level
With the lower highs and lower lows and %R below -80, looks like price will test the support zone again before any long opportunity
2a. Daily, although it broke through resistance, since then price has steadily retraced.
2b. The pin bar and bullish engulfing did not touch the bottom of the zone, or the 150 EMA, this is also a .5 Fib retracement level
With the lower highs and lower lows and %R below -80, looks like price will test the support zone again before any long opportunity
Nota
Price is consolidating at the zone, now lets look for Price Action confirmationNota
As you can see price action never confirmed, so it was good in that we did not take any tradesOrdine annullato
Although there was a nice pin bar at support, we did not get price action confirmation.Staying out of a trade is also a good strategy if you do not get confirmation.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.