Macro trend:
- Yearly/Monthly: Bullish, just broken out of consolidation with higher lows
- Weekly: Bullish, Just broken out of 6 week consolidation
2 ways to get in on a trend:
- Wait for the retracement and buy the retest
- Buy near the bottom of the consolidation
Key levels outlined:
1) Last week Range High
2) H4 consolidation (Mark the top and bottom)
3) H1 Demand zone
Confluence for trade:
- Trade idea aligns with Macro trend
- H1 Demand zone + Bottom of consolidation (Both same area - My first entry)
Invalidation: H1 close below Demand zone
Adding position: H4 close above Last week High, Buy a retest near top of consolidation
- Yearly/Monthly: Bullish, just broken out of consolidation with higher lows
- Weekly: Bullish, Just broken out of 6 week consolidation
2 ways to get in on a trend:
- Wait for the retracement and buy the retest
- Buy near the bottom of the consolidation
Key levels outlined:
1) Last week Range High
2) H4 consolidation (Mark the top and bottom)
3) H1 Demand zone
Confluence for trade:
- Trade idea aligns with Macro trend
- H1 Demand zone + Bottom of consolidation (Both same area - My first entry)
Invalidation: H1 close below Demand zone
Adding position: H4 close above Last week High, Buy a retest near top of consolidation
Trade closed: stop reached
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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.