1) Top-down analysis
Monthly - Previous monthly closure, closed with shooting star
Weekly - Closed with three pins or three wick which actually made a momentum
Daily - Made a higher high
4H - Break of correction and waiting for pullback to get liquidity
Still bullish bias but made a bearish momentum
2) Confluences for downside (If made a pullback)
a. FIB Golden zone
b. Lower timeframe structural level
c. Major psychological level (1.39000)
d. Break and retest (In liquidity)
e. Correction
Monthly - Previous monthly closure, closed with shooting star
Weekly - Closed with three pins or three wick which actually made a momentum
Daily - Made a higher high
4H - Break of correction and waiting for pullback to get liquidity
Still bullish bias but made a bearish momentum
2) Confluences for downside (If made a pullback)
a. FIB Golden zone
b. Lower timeframe structural level
c. Major psychological level (1.39000)
d. Break and retest (In liquidity)
e. Correction
Note
I'm going long now, as the 1H Candlestick highly respected the 1.38000
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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.