Long setup with liquidity and fibonacci confluences
The H4 timeframe shows a nice zone of confluences :
- 1.272 Fib extension
- Structure support at 1.1027
- ABCD pattern on both H4 and M15 time frame (blue and red trend lines)
Before reaching this zone the price is retracing on its 61.8 Fib level, so we need to find a way to enter long of this trade. I use to enter on M15 timeframe to find zone of high liquidity which I have located at 1.0866 level. The risk reward is 1:4.
Happy trading !
- 1.272 Fib extension
- Structure support at 1.1027
- ABCD pattern on both H4 and M15 time frame (blue and red trend lines)
Before reaching this zone the price is retracing on its 61.8 Fib level, so we need to find a way to enter long of this trade. I use to enter on M15 timeframe to find zone of high liquidity which I have located at 1.0866 level. The risk reward is 1:4.
Happy trading !
Trade closed manually
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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.