We have two harmonic patterns completing within 20 pips of each other. We are approaching a daily bullish trendline. We have bullish divergence from swing low to low, and we are developing divergence on the tail end of this bear run.
The only thing I don't like is I don't see any clear elliott waves, I usually look for 5 waves, since we don't have them I will wait until price makes one more low on the 1HR, if we maintain bullish divergence and get a bull candlestick pattern at that new low, I'll be looking to enter for a long and put my SL 20 pips passed that probably.
Enjoy
The only thing I don't like is I don't see any clear elliott waves, I usually look for 5 waves, since we don't have them I will wait until price makes one more low on the 1HR, if we maintain bullish divergence and get a bull candlestick pattern at that new low, I'll be looking to enter for a long and put my SL 20 pips passed that probably.
Enjoy
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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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.