Weekly timeframe:
In this big timeframe we see that an Inverted Head and Shoulder pattern is made. Were the right shoulder is a
"Bullish engulfing".
>So Us30 opened bearish because price, had to go for the 50% of that big bullish engulfing.
4H timeframe confirmations:
1- Key Zones- Critical level of support 34880 and 34800 been hit and retested (Critical zone because, in there fit the 50% fibonacci of the weekly candle and also, the fibonacci of the 4H bullish move of past week.
2- Market Structure- The big head and shoulder in weekly and also, the formation of HH and HL in the 4H timeframe.
3- CandleStick- We notice the candle stick in the weekly timeframe the (bullish engulfing) but, in the 4H we need this current bullish engulfing to close like this!
4- We need to wait this 4H candle close has a Bullish engulfing between this two mayor key zones. To confirm that this zones and fibonacci zones are well respected.
To take advantage of this trade wait for the 9:30 am NY opening that could go for stop hunts and then enter or wait for the 50% of the candle in 4H.
In this big timeframe we see that an Inverted Head and Shoulder pattern is made. Were the right shoulder is a
"Bullish engulfing".
>So Us30 opened bearish because price, had to go for the 50% of that big bullish engulfing.
4H timeframe confirmations:
1- Key Zones- Critical level of support 34880 and 34800 been hit and retested (Critical zone because, in there fit the 50% fibonacci of the weekly candle and also, the fibonacci of the 4H bullish move of past week.
2- Market Structure- The big head and shoulder in weekly and also, the formation of HH and HL in the 4H timeframe.
3- CandleStick- We notice the candle stick in the weekly timeframe the (bullish engulfing) but, in the 4H we need this current bullish engulfing to close like this!
4- We need to wait this 4H candle close has a Bullish engulfing between this two mayor key zones. To confirm that this zones and fibonacci zones are well respected.
To take advantage of this trade wait for the 9:30 am NY opening that could go for stop hunts and then enter or wait for the 50% of the candle in 4H.
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.