Started by identifying a month long channel that started forming mid March.
Support seems consistent with 2 contact points.
Identified levels:
L365, L412, L444.44 :)
Expecting rejection from L412 and trend support on 27 April, followed by a rise to L444.44 by 1st of May.
Planning to enter after confirmaion of bounce (28 May)
SL of 1700p (2% risk @ 8000 balance = 0.09 LOT size)
TP of 5106p
Risk/Reward ratio of 3
PROs:
L412 and trendline
No MACD Divergence
CONs:
Possible triple top with neckline @ L412. Will watch for breach.
Fundamentals:
Lockdown measures still in place
Support seems consistent with 2 contact points.
Identified levels:
L365, L412, L444.44 :)
Expecting rejection from L412 and trend support on 27 April, followed by a rise to L444.44 by 1st of May.
Planning to enter after confirmaion of bounce (28 May)
SL of 1700p (2% risk @ 8000 balance = 0.09 LOT size)
TP of 5106p
Risk/Reward ratio of 3
PROs:
L412 and trendline
No MACD Divergence
CONs:
Possible triple top with neckline @ L412. Will watch for breach.
Fundamentals:
Lockdown measures still in place
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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.