Price is generally moving in the uptrend means we should be looking buying opportunities on the H1 frame. Then price formed a upward triangle till it broke the resistance turned support (RTS) . Now price is back to retest the RTS.
Now my major confluences for considering this trade are;
(1) Generally a buy signal is generated when price hits a trend line thrice especially when the third touch is at a 50/68% zone of the fibonacci retracement
(2) Price broke out of a RTS
(3) Price is retesting RTS zone
(4) It's oversold and returning
Let's see what the market has in store for us. Happy trading!
Now my major confluences for considering this trade are;
(1) Generally a buy signal is generated when price hits a trend line thrice especially when the third touch is at a 50/68% zone of the fibonacci retracement
(2) Price broke out of a RTS
(3) Price is retesting RTS zone
(4) It's oversold and returning
Let's see what the market has in store for us. Happy trading!
Commento:
Well would you look at that, I guess market had other plans for us. Well onto the next