Analysis:
Price action is in continuous Bullish Trend since last Oct.
Going Long as per Plan A
Bullish Indications:
1- Bullish Trend on 1H, 4H, 1D
2- Support Line which was Resistance, this support line was last broken in Oct2022 and now on 13th Dec 2022
3- Trend line is respected many times on 1D view
4- Harami Candle / Bullish Engulfing Pattern forming on 1H
5- Continous Buyers Dominations on 1D Candles
6- Next Resistance at 1.30000
7- Bullish Shark Pattern formed from 1st Dec - 7th Dec
8- No divergence found
Plan A:
Long
Entry: 1.23713
SL: 1.22437
TP1: RRR1
TP2: RRR2
TP3: RRR3
Bearish Indications:
1- if support is broken and become resistance it become strong resistance
2- if trend line is broken on 1D view then bearish trend can be expected
3- if another red candle formed means sellers domination
Plan B:
Short
entry : below 1.23457 (current Support)
SL: 1.24500
TP1: RRR1
TP2: RRR2
Price action is in continuous Bullish Trend since last Oct.
Going Long as per Plan A
Bullish Indications:
1- Bullish Trend on 1H, 4H, 1D
2- Support Line which was Resistance, this support line was last broken in Oct2022 and now on 13th Dec 2022
3- Trend line is respected many times on 1D view
4- Harami Candle / Bullish Engulfing Pattern forming on 1H
5- Continous Buyers Dominations on 1D Candles
6- Next Resistance at 1.30000
7- Bullish Shark Pattern formed from 1st Dec - 7th Dec
8- No divergence found
Plan A:
Long
Entry: 1.23713
SL: 1.22437
TP1: RRR1
TP2: RRR2
TP3: RRR3
Bearish Indications:
1- if support is broken and become resistance it become strong resistance
2- if trend line is broken on 1D view then bearish trend can be expected
3- if another red candle formed means sellers domination
Plan B:
Short
entry : below 1.23457 (current Support)
SL: 1.24500
TP1: RRR1
TP2: RRR2
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.
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.