I am expecting a big move up on the HTF
. This may be the start of it, but the hourly MACD
is not showing divergence which suggests another move down before a big move up. There is a strong support area
around the 103 area. If this breaks down I will trade it with a tight SL. Then long it for the bigger move to the daily TL (green line) and above. If price breaks above the channel I will look for a small retracement and take a long to the TL providing I can get at least a 2:1.
Educate yourself, create your own trade plan, validate your trade ideas through other trader's ideas. Take responsibility for your own trades.