1. Price has already breached its main resistance
at the current price.
2. Price has exhausted its strength to the upside
in the form of double top
(bearish pattern)
3. Waiting for the pair to established support on
our buy side liquidity
and wait for a bullish correction for another long
entry.
4. if the price past through our buyside liquidity,
long position is invalidated.
Note: I'd be careful in placing a buy position now as the RSI also shows divergence which is not good for the bulls.
wait for the price to test the buyside liquidity before taking any position.
at the current price.
2. Price has exhausted its strength to the upside
in the form of double top
(bearish pattern)
3. Waiting for the pair to established support on
our buy side liquidity
and wait for a bullish correction for another long
entry.
4. if the price past through our buyside liquidity,
long position is invalidated.
Note: I'd be careful in placing a buy position now as the RSI also shows divergence which is not good for the bulls.
wait for the price to test the buyside liquidity before taking any position.
Trade active
1. On the H1 TF, price can be seen moving above the 50EMA2. 50EMA support also held the 1.2700 area indicating that
there might be another attempt to test the 1.3000 resistance key level
3. I'll be waiting for the breakout on the 1.3000 resistance and a retest from
it to avoid fake-out.
Note:
If the 1.27000 support level is broken then I'll be waiting for the price to come at my buy side liquidity.
Trade active
Already bought at 1.2415 since the price is showing a double bottom at that particular level, I thought it was a good level to entry as it's close into our majorkey area. SL would be tight too.
Trade closed manually
1.We were able to catch this trade since from our previous analysis, we were expecting the price to test our buy side liquidity. 2. When price retested our liquidity level, we were able to see a bullish move
in the form of a double bottom so we were able to put a position on that price level.
3. target closed at 1.2941 since this level is a key area and might reject the price
momentum to the upside.
3.6RR
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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.