Testing strategy 1 as bullish points are more than bearish, so biased as Long and executing plan A.
Backup plan, is price breaks the support at 83 then Plan B can be executed for going Short
Bullish Indications:
1- Buyers presure to bring up the price
2- Strong Support zone from 83-82 which is not broken since Apr 2021
3-upper trend line (based on line chart on 4H) is showing the the retracement will continue to upwards
4- AB=CD pattern shows that reversal is expected
Bearish Indications:
1- Bearish Trend on 1H, 4H & 1D since sept 2022
2- Next Coming Resistance at 86 & 88
3- is support is broken at 83 then we can have a long bearish ride
Plan A:
Long
Entry: 85.25
SL: 82
TP1: RRR1
TP2: RRR2
TP3: RRR3
Plan B:
Short
entry : below 83 (current Support)
SL: 86
TP1: RRR1
TP2: RRR2
TP3: RRR3
Backup plan, is price breaks the support at 83 then Plan B can be executed for going Short
Bullish Indications:
1- Buyers presure to bring up the price
2- Strong Support zone from 83-82 which is not broken since Apr 2021
3-upper trend line (based on line chart on 4H) is showing the the retracement will continue to upwards
4- AB=CD pattern shows that reversal is expected
Bearish Indications:
1- Bearish Trend on 1H, 4H & 1D since sept 2022
2- Next Coming Resistance at 86 & 88
3- is support is broken at 83 then we can have a long bearish ride
Plan A:
Long
Entry: 85.25
SL: 82
TP1: RRR1
TP2: RRR2
TP3: RRR3
Plan B:
Short
entry : below 83 (current Support)
SL: 86
TP1: RRR1
TP2: RRR2
TP3: RRR3
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.