If the 0.7800 position is broken, expect further gains to break the previous top
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
Trading philosophy: Don’t short at the lowest of the momentum nor do we long at the peak of a impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the D1 master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The and indictors are confirmation for entries at the 4H or 1H timeframe
4H chart should confirm that the retrace had turned . The should have dropped below zero signifying a environment. Price would have dropped below the 10 and 20 . For good measure, check that the 4h and D1 is below the 50 signal line
4H chart should confirm that the retrace had turned . The should have gone above zero signifying a environment. Price had gone above the 10 and 20 . For good measure, check that the 4h and D1 is above the 50 signal line
I publish ideas on this Premium Account : https://www.tradingview.com/u/Tradeassoc... Follow me on both channels for updates.