ANALYSIS ON DAILY, 4HR, 1HR
For intraday trading follow these steps
On daily TF look and what do you see
Price is respecting a zone
A upward trend has formed and thus forms a chart pattern
this pattern is called a ascending wedge (amongst many others)
The wedge was broken and retested forming a double bottom which indicates price will move back up
On 4hr TF you can see a descending wedge or a channel forming
highs and lows are respected here
exhaustion wicks show movement will be bearish back to the zone but as higher TF is bullish, we can see price will move up too
EMAs respect this movement
SO now you look for entries
On 1HR TF, I would wait for a bearish movement. a bearish candle has formed so set SL as outside the pattern and TP to the zone
set trade and monitor on 4hr
does that make sense?
NEVER go below 1hr/m30 if you want to intraday
whilst i was typing - you can see GJ went into profit
For intraday trading follow these steps
On daily TF look and what do you see
Price is respecting a zone
A upward trend has formed and thus forms a chart pattern
this pattern is called a ascending wedge (amongst many others)
The wedge was broken and retested forming a double bottom which indicates price will move back up
On 4hr TF you can see a descending wedge or a channel forming
highs and lows are respected here
exhaustion wicks show movement will be bearish back to the zone but as higher TF is bullish, we can see price will move up too
EMAs respect this movement
SO now you look for entries
On 1HR TF, I would wait for a bearish movement. a bearish candle has formed so set SL as outside the pattern and TP to the zone
set trade and monitor on 4hr
does that make sense?
NEVER go below 1hr/m30 if you want to intraday
whilst i was typing - you can see GJ went into profit
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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.