Muzi_muz

Muzi_muz Updated 

Identified the highest point and lowest point of the range, then added my support lines within this channel. The downtrend is quite strong successfully breaking through the supports heading towards the Lowest point. Also Identified a downward triangle with 4 hits and a breakthrough the support line.

Muzi_muz Updated 

Firstly from first sight identified a triangle and plotted my points, added my support/resistance lines to view all rejections and breakthroughs (S1-S5 & R1-R5). I see 3 opportunities for LONG positions, the first right above the R3, if a breakthrough is successfully added my BUY STOP a few pips above the R3 to avoid false touches or breakthroughs, duplicated the...

Muzi_muz Updated 

Found a small opportunity for a quick trade on a SHORT, simple downtrend in view with a minor HL in the middle but sellers kept the movement in check and expect to the yellow block which is the lowest low of this range, will also expect the lowset low to reject the falling movement and head back up to test the first (R1) and second (R2) resistance points which...

Muzi_muz

Started my analysis on the daily chart to view the trend, once identified, drilled down into 4 hourly chart to look for support and resistance & enclosing triangle moves. Drilled down into the hourly chart to identify my entry point, added my LONG prediction with TP @ 1.05743 and SL @ 1.05335 from a BUY STOP @1.05457