On the monthly candle from April this year we see an big bullish engulfing candle. Now on the weekly we see that the price needed to do what it needs to do. And that is to make a double bottom. Now on the 4H the price broke out of a downtrend, and we expect the price is going to 0.885.
- On the daily we see an bullish engulfing candle around the 061.8 level. I decide to buy to the 0.236 level. SL - 1756 TP - 1860
Price respects daily trend line. Bullish engulfing on daily. Trend broken. on shorter timeframe.
USDCHF - On the weekly we see that the price touched an imbalance. On the 4H we see a double bottom. I expect the price to move to next resistance around 0.91970. Which is also an 0.5 fib level. I place a buy stop at 0.901. SL is placed at 0.89150
- On the monthly we see that the price is consolidating. The last monthly candle from April, left a clear bullish engulfing candle. It also respected the 0.786 fibonacci level, measured from the last low to the last high. - On the weekly we see that the price pushed aggressively to the upside last weeks, and made now a pullback to the 0.618 fibonacci level. - On...
- On the weekly we see that the price is on a very important zone, and is very oversold. On the daily we see that the price has rejected on that zone. We also see that the downtrend is broken on the 4H TF + retested. - What price are we looking for? We are looking for the price going to 1.23650, which is at the previous low. - Where do we enter? If we look closer...
- On the weekly we see that the trend has broken and retested. The last HH was on a resistance zone. My level where I am looking for on the Weekly TF is 0.85575. This is on an 0.618 fib level. On the Daily we see that the price made a lower low, and is currently testing at the previous low + 0.618 fib level. On the 1H TF we see a clear rejection. - How to enter...