currently price is within the daily supply; which is within 50% - 62% fibo retracement level. in addition, that there's a sign of bearish divergent.
So I am planning to put sell limit within h4 supply and take profit on the opposite zone on daily demand.
This are just my thoughts based on the technical strategy that I used.
Renee H
So I am planning to put sell limit within h4 supply and take profit on the opposite zone on daily demand.
This are just my thoughts based on the technical strategy that I used.
Renee H
Note
Based on the weekly chart, we can see that supply is in control with a very strong bearish candle.
As I already mentioned, price is currently within the daily supply zone. So in order to enter the trade, I am looking at h4 timeframe to enter.
Cheers
Trade active
Trade closed: target reached
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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.