This pair was added to our Awaiting Confirmation list on April 16, after showing a potential setup for a long position based on price deviation.
As of April 17, the setup evolved further:
Conclusion:
Although not all indicators were aligned perfectly, the price structure and early momentum reversal were enough for me to trigger a long entry as of April 17.
Now, I am monitoring this position with close attention to DI dynamics and further stochastic confirmation.
As of April 17, the setup evolved further:
- The pair Started below the lower Bollinger Band, suggesting continued price dislocation.
- Stochastic %K and %D were both under 20, indicating an Oversold condition.
- ADX = 12.0 – signaling a sideways market, favorable for mean reversion.
- DI-/DI+ ratio = 1.86 – still shows dominance of sellers, but that value improved (decreased) from the previous day.
- A strong bullish candle appeared, reinforcing the shift in momentum.
Conclusion:
Although not all indicators were aligned perfectly, the price structure and early momentum reversal were enough for me to trigger a long entry as of April 17.
Now, I am monitoring this position with close attention to DI dynamics and further stochastic confirmation.
Trade closed: target reached
I closed this trade yesterday, with 0.96% profit in 4 trading days.
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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.
Related publications
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.