1) Main-trend : downtrend
daily--downtrend
hourly---downtrend
2) Zone : 1.63400 1.63100
previous range bound resistance zone
multiple rejections of zone
3)Price Action
price broke 1.61300 support creating new lows @ 1.59000
Alt a
seeing a bullish correction towards zone
i) looking for depletion of bullish volume
ii) rejection candles
iii) continuation of downtrend targeting tp1 "1.61300" tp2 "1.59000
4) parallel channel
seeing potential range bound correction
i) looking for rejection of upper channel line
5) Invalidation of sell setup
bullish candle close above 1.63500
daily--downtrend
hourly---downtrend
2) Zone : 1.63400 1.63100
previous range bound resistance zone
multiple rejections of zone
3)Price Action
price broke 1.61300 support creating new lows @ 1.59000
Alt a
seeing a bullish correction towards zone
i) looking for depletion of bullish volume
ii) rejection candles
iii) continuation of downtrend targeting tp1 "1.61300" tp2 "1.59000
4) parallel channel
seeing potential range bound correction
i) looking for rejection of upper channel line
5) Invalidation of sell setup
bullish candle close above 1.63500
Note
Setup triggeredNote
invalidated retest broke structure
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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.