Weekly: 0.91850 major zone/previous swing, accumulation started after zone was broken in late july enticing more sellers to create liquidity in offloading short positions, forming saucer pattern
Daily: Weak rejection yesterday 7th Oct, after bulls retested major 0.91850 zone
4H: Price currently showing signs of breakout, confluencing with H4 100MA,
Potential Entry: monitoring 4H price action for closing above 0.91850-0.92000 for potential LONG targeting 0.93000 previous high, SL 0.91400, R/R 1:2
COT Perspective: CHF longs getting closed and shorts adding in
Never Trade Without Good Risk Reward Ratio
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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.