I've been very lazy lately and looking to get back on track with analysis practice.
Price is approaching a H4 zone where price has tended to reverse since the start of the year
I would look for prices to bounce from the H4 zone and enter on momentum to the downside (bearish engulfing).
TP are at the nearest H1 zones at .95000, .94500 and .93950
SL is .95900
Trade is invalid if H4 zone becomes a new support area.
Please note, this is practice analysis for myself.
If there is anything I could improve on, please let me know.
Price is approaching a H4 zone where price has tended to reverse since the start of the year
I would look for prices to bounce from the H4 zone and enter on momentum to the downside (bearish engulfing).
TP are at the nearest H1 zones at .95000, .94500 and .93950
SL is .95900
Trade is invalid if H4 zone becomes a new support area.
Please note, this is practice analysis for myself.
If there is anything I could improve on, please let me know.