Exponentialmovingaverage
Symmetrical Triangle Traded On EURCHF Currency Pair (2021APR29)Trading the Symmetrical Triangle on EURCHF Currency Pair using the H4 Chart. Wait for a close below diagonal support level. After the candlestick closed below the level, diagonal support turned resistance. Next, wait for price pull back to the resistance line for the retest. Watch for a pin bar or rejection candle to form. The ideal condition is to have a pin bar form on the retest of the diagonal resistance line. The pin bar will form on the EMA 10, EMA 20, and diagonal resistance line for perfect ideal condition.
Here are the three ways to enter.
Enter at closing price of the pin bar, break of the pin bar nose with a sell stop order, or 50% Fibonacci Retracement of the pin bar with a sell limit order.
Stop Loss is place 5-10 pips above the pin bar tail. Or stop loss is placed above the break out candle.
Take Profit is the first point of the trend line. In this case, the take profit level is 1.09756
Pin Bar is date 29 April 2021 time 16:00.
Pennant Pattern On The H4 Chart (2021 April 28 ; 20:00)Trading the Pennant (Symmetrical Triangle). Wait for a close above/below the diagonal level. In this case, wait for a close below diagonal support resistance level. After the close, diagonal support turned resistance. Next, watch for a pin bar to form at the Resistance Line, EMA 10, EMA 20 in a Pull Back.
Enter at closing price of the pin bar, break of the pin bar nose with a sell stop order, or 50% Fibonacci Retracement of the pin bar with a sell limit order.
Stop Loss is place 5-10 pips above the pin bar tail. Or stop loss is placed above the break out candle.
Take Profit is the first point of the trend line. In this case, the take profit level is 0.94906.
Pin Bar is date 28 April 2021 time 20:00.
XPTUSD Entry Price Between Fibonacci 0.236 and 0.382Watch for an entry near Fibonacci Retracement Level 0.236 (Price 1256.302) and Resistance Level Turn Support at Price 1255.450.
Wait for a price action signal in the form of pin bar at Fibonacci Level Area 0.236 and 0.382. You will want to enter a buy order in the area of Exponential Moving Average Period 10 and Exponential Moving Average Period 20 "AND" the area of Fibonacci Retracement Level 0.236 and 0.382.
So, for confluence, use the following factors:
Look for a Pin Bar in a pull back at
* Fibonacci Retracement Horizontal Level (0.236 0.500)
* Support Resistance Horizontal Key Level (1255.450)
* Support Resistance Diagonal Level (Trend Line)
* Dynamic Support Resistance (EMA 10 EMA 20)
EURZAR Hit Take Profit At 17.32788 | What's Next For This Pair?17.32788 Resistance Level Turned Support is the next level to watch for a price action signal in the form of a pin bar or engulfing candle.
The initial entry for this trade idea came on 26-Apr-2021. The entry was the pin bar at time 16:00.
Entry 17.23070
Stop Loss 17.19988
R-Multiple = 3.15R
Note: Stop loss level was below the EMA 10, EMA 20, and converging trend lines.