Very Simple analysis. It might look like a lot but here is the process I go through.
I go to the Daily Chart, and find any trend lines and also draw support/resistance.
I then look for a 1HR Harmonic, sometimes 4HR to complete at or near these regions. Within that harmonic I look for:
Divergence
Candlestick pattern
Reversal Chart Pattern
I look for them in or at the PRZ of the Harmonic.
Right now we have a Bullish Bat setup, but price action still looks strong on the seller side in terms of the 1HR, I want to see divergence hold up, if we get that we should also get a Three Drives Pattern completing around 1.8220 (look for a low that extends 1.27-1.618 from the #2 swing low)
From that point it is just looking for a Candlestick Signal. Then I will be looking for the .618% Target as TP1.
But let's see how the markets look tonight first :)
ALSO, I would not rule out the idea of this bat extending all the way down to the 1.13 of XD.
I go to the Daily Chart, and find any trend lines and also draw support/resistance.
I then look for a 1HR Harmonic, sometimes 4HR to complete at or near these regions. Within that harmonic I look for:
Divergence
Candlestick pattern
Reversal Chart Pattern
I look for them in or at the PRZ of the Harmonic.
Right now we have a Bullish Bat setup, but price action still looks strong on the seller side in terms of the 1HR, I want to see divergence hold up, if we get that we should also get a Three Drives Pattern completing around 1.8220 (look for a low that extends 1.27-1.618 from the #2 swing low)
From that point it is just looking for a Candlestick Signal. Then I will be looking for the .618% Target as TP1.
But let's see how the markets look tonight first :)
ALSO, I would not rule out the idea of this bat extending all the way down to the 1.13 of XD.
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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. 👇
theelevatedinvestor.carrd.co/
Your next setup is waiting—Subscribe for access to my weekly outlooks. 👇
theelevatedinvestor.carrd.co/
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.