Bullish Indications
1) Major Trend is HH and HL being formed in 4h + D time frame
2) Three red soldiers being formed at the moment but could be a small pull back
3) Support = 1786 to 1792 Resistance = 1817-1820 level
4) Parallel channel since 23 Nov being respected 5) Fib Support level of the bull trend since 23 Nov 0.786 is being respected
Bias : Long Plan A
Entry @ 1800 level when the strong support has been tested multiple times
SL @ 1765 Level as FIb strong support has been tested since the trend
TP1 @ 1818
TP2 @ 1840
TP3 @ 1854
Bearish Indications: 1) LL Lh being forrmed in 1 h timeframe
2) Support = 1796-1800 area Resistance = 1810 Area Major Resistance at 1820 aread
3) Trend channel already broken in a bearish direction 4) Recent Bull trend is now being retraced and about to get below 50% i.e 0.246 level support about to reach
Plan B
If we go for bearish trend then
Short Entry @ 1800 SL @ 1812
TP @ 1794
1) Major Trend is HH and HL being formed in 4h + D time frame
2) Three red soldiers being formed at the moment but could be a small pull back
3) Support = 1786 to 1792 Resistance = 1817-1820 level
4) Parallel channel since 23 Nov being respected 5) Fib Support level of the bull trend since 23 Nov 0.786 is being respected
Bias : Long Plan A
Entry @ 1800 level when the strong support has been tested multiple times
SL @ 1765 Level as FIb strong support has been tested since the trend
TP1 @ 1818
TP2 @ 1840
TP3 @ 1854
Bearish Indications: 1) LL Lh being forrmed in 1 h timeframe
2) Support = 1796-1800 area Resistance = 1810 Area Major Resistance at 1820 aread
3) Trend channel already broken in a bearish direction 4) Recent Bull trend is now being retraced and about to get below 50% i.e 0.246 level support about to reach
Plan B
If we go for bearish trend then
Short Entry @ 1800 SL @ 1812
TP @ 1794
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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.