Hi Traders, Today we are looking at a possible double bottom forming on the 4-Hour Chart We have seen nothing but bearish price action for the past month on most FX pairs. The DXY has been going parabolic Is this a good time to buy? I only enter positions that match my setup, which could be a possible play. Yes, it is a counter-trend which is not always advisable. This is why I would only risk a very small position on this as I wouldn’t class this as an A grade Setup. We are sitting on daily support. I am waiting for the price to break and close above that yellow neck zone. If it does this I will be waiting for a possible retrace before potentially taking this pair long with a RR of 1/4 However, we need a strong bullish volume to accompany the break of the yellow zone.
Hope you all have a great week! See you on the next one,
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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.