Summary of the previous description:
as we said in the previous analysis, the price is moving in a nice weekly channel (red lines). she is trapped in a triangle channel too (yellow lines), which seems its mission is leading the price to the top of the red weekly channel. H4 confirmation.
UPDATE: everything is the same as before, but now we can add another line (green line) that is too strong and as we can see, it was a strict resistance which can be turned into a support line after being broken by the chart and it is the first time being touched as a support line. the most important point is that now, we have A WONDERFUL INTERSECTION between the two important yellow and green lines, both as strong support.
This is one of the perfect situations I have always been looking for.
we have a good risk to reward ratio as well.
wait for confirmation on H4 tf for long entry.
good lock and always remember there is no 100% in the market.
as we said in the previous analysis, the price is moving in a nice weekly channel (red lines). she is trapped in a triangle channel too (yellow lines), which seems its mission is leading the price to the top of the red weekly channel. H4 confirmation.
UPDATE: everything is the same as before, but now we can add another line (green line) that is too strong and as we can see, it was a strict resistance which can be turned into a support line after being broken by the chart and it is the first time being touched as a support line. the most important point is that now, we have A WONDERFUL INTERSECTION between the two important yellow and green lines, both as strong support.
This is one of the perfect situations I have always been looking for.
we have a good risk to reward ratio as well.
wait for confirmation on H4 tf for long entry.
good lock and always remember there is no 100% in the market.
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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.