This is the zone I was waiting for.
If 4H price holds above, I will execute a long trade.
Confluences:
1) 4H horizontal support
2) 50% fib retracement
3) S2 pivot support
4) Ascending trendline
5) Negative US July retail report
If any 4H candle close below the zone, no trade.
If 4H price holds above, I will execute a long trade.
Confluences:
1) 4H horizontal support
2) 50% fib retracement
3) S2 pivot support
4) Ascending trendline
5) Negative US July retail report
If any 4H candle close below the zone, no trade.
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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.