Long time trend :- long
daily is showing a formation of head and shoulder.
along with that 4 hour there is a kind of wolf wave formation
small time trend :- short
Scalping :- master candle on 4 hour chart ; have a watch , if break 88.642 go long , small hold & exit
if break 88.389 go short ,small hold & exit
----------------------------------------------------
Analysis
-> it is stuck in an heavy resistance area( 88.672 to 88.165) , in between there is local resistance area (88.477 to 88.397 )
-> initally there is a T89 pattern on 1 hour chart which is slightly indicating that it will go down for short time.
->Murrey math 5/8 ( on top of trading range)
->inverted head and shoulder formation on daily time frame
-> wolf wave forming need to wait if it completely form.
-> stuck between two pivots .
wait and watch .
TRading point :-
i will be going according to master candle and will hold the direction .
most probably short
TP:- 88.171
then wait for the the wolf wave completion as soon as the price is above the trend line 1 & 2 will go long and hold till it meet the wolf line target profit .
if wolf doesnt complete or take an other shape then will go with head and shoulder and will long .
enjoy trading :)
Mondays are always with if and else lol
:) cheers
daily is showing a formation of head and shoulder.
along with that 4 hour there is a kind of wolf wave formation
small time trend :- short
Scalping :- master candle on 4 hour chart ; have a watch , if break 88.642 go long , small hold & exit
if break 88.389 go short ,small hold & exit
----------------------------------------------------
Analysis
-> it is stuck in an heavy resistance area( 88.672 to 88.165) , in between there is local resistance area (88.477 to 88.397 )
-> initally there is a T89 pattern on 1 hour chart which is slightly indicating that it will go down for short time.
->Murrey math 5/8 ( on top of trading range)
->inverted head and shoulder formation on daily time frame
-> wolf wave forming need to wait if it completely form.
-> stuck between two pivots .
wait and watch .
TRading point :-
i will be going according to master candle and will hold the direction .
most probably short
TP:- 88.171
then wait for the the wolf wave completion as soon as the price is above the trend line 1 & 2 will go long and hold till it meet the wolf line target profit .
if wolf doesnt complete or take an other shape then will go with head and shoulder and will long .
enjoy trading :)
Mondays are always with if and else lol
:) cheers
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