Daily: - bullish impulse - previous resistance turns support - 38.2% Daily retracement level achieved 4 hour: - macd above 0.000 - structure shift from bearish to bullish - just waiting for emas to cut for long in confluence with macd ( 10 above the 20)
Daily: - daily impulse created - daily correction to atleast 38.2% fib 4hour: - break and retest of 4hr resistance turnt back into resistance - waited for a structure change bull 2 bear - 10 and 20 ema cut for short - macd below the 0.0 level - new bearish structure created and tested Sell limit order was used in this trade setup
- daily resistance broken whilst printing a bullish impulse - i am waiting for a bearish correction back to the previous daily resistance zone, which should now act as support - once a bearish correction has started i will use a fib confluence in this zone - once all rules of my strategy are satisfied, the trade will be taken
Before photo of an open swing position on AUDJPY, all criteria was satisfied in order for me to take this trade. After photo will be uploaded after the trade has been closed, regardless of profit or loss.
Reason for taking this trade - overall bullish trend - daily resistance broken and turned support - 38.2% and 50.0% fib confluence
Reasons for taking this trade - overall bullish trend - daily resistance broken and turned support - 38.2% and 50.0% fib confluence - 50 ema confluence in the zone - rejection from lower time frame zones
Weekly resistance respected + 61.8% Daily resistance respected + 38.2%
Aud/usd break and restest of zone and shirt to the downside
Trade i have recently capitalised on recently, following my plan and executing accordingly to my rules!
Short postion idea if we can get a confirmation on the daily correction
Bullish pressure and bullish engulfing candle shows potential upside move
Potential test of the support line and bounce, or follow a break below support for retest and continuation