Enter : At H4, Break out on 5 minutes SL : H3 Target : H5 (T1)
Used Narrow CPR breakout trade on 5 min in the 1st half today. Took trade at H4 with SL at H3 and Target at H5. Target Achieved..
Used Fibbo and recent swing low to project future price - Expect a rise to between 480- 500 from current price of 266. Stop loss will be 25% ATR of new highs. Reasons - 1) Magic number projection from long Trend line support - at 125-133% 2) No near term resistance , there can be some consolidation at 300 and 340 levels
Wait for confirmation candle for Bearish Reversal. T1 at Point 4 - 21100 T2 - 21000 Time frame 1-2 Days
Expect Wave5 to hit 106 level based on Fib Retracement level before reversing back to 1-4 Line on the Wolve wave. Will wait for reversal before shorting the position. To update Targets based on Reversal of trend.
Expect position to reverse from the 1-4 line exactly at Fibbo levels - 125-133%. Reversal can take it above to Swing high 3.68 as Target T1 and 3.74 level as target T2.
Bearish wolfe wave - CPA almost hit. Expect a reversal shortly at 2200 level to retrace back to 2275 level
Stock price - Short term target 17.26 AUD
Analysis uses Wolve waves on 1 hour timeframe Joining point 1 and 3 along the trend expect Wave 5 to cross at 11679 and reverse above at 11700-11750. Could reverse to a lower target during reversal over subsequent weeks.
Trigger for this trade Stock is in range on 4hour time frame. Reversal in progress. Break of channel Trade strategy = When RSI on 1 hour time below 50 and retested near term resistance level at 752. Candles should be below 10 EMA and close to 50 EMA support. Trade on lower time frame - 15mins , Targets = T1 - 740, T2 - 730, T3 = 719. Time frame -3-4 days
One of my first analysis post on Tradingview. Observation - See a rising wedge pattern potentially resulting in a reversal once the lower wedge has broken down. See a negative divergence on the RSI with the ascending wedge and lower buy volumes marking lower momentum among bulls. Trade recommendation - Will trade the crude as RSI goes...