This is quite a risky trade as we do not have any bullish divergence on the M15 or the H1 therefore I think it's more than likely just going to be a C wave up and not a reversal.
M15 Were getting a correction down in wave B, look for your buy setup.
H1 price is more like a flag, I will be waiting for a solid close out of the flag to buy targeting the 100fib.
Good luck and trade safe!
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M15 Were getting a correction down in wave B, look for your buy setup.
H1 price is more like a flag, I will be waiting for a solid close out of the flag to buy targeting the 100fib.
Good luck and trade safe!
If you like this idea hit the thumbs up to show your appreciation for this free analysis.
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
We got the break of M15 TL and now it looks to be giving a M15 bull flag. I would suggest to move your SL just under wave B if your in the trade. It's a bit early to tell but I dare say we will get M15 bear divergence so be sure to take at least half off the table at the 100fib.
Comment:
It's going onto 8hr after the H1 flag break and is making a M15 flag which maybe going to break. I think it would be a good idea to move SL to just under the M15 flag, Sunday could be slow.
M15 chart.
M15 chart.
Comment:
The M15 flag never went so If you placed you SL where I suggested in my last update you would have got BE or very small loss. H1 is turning more into a correction than a flag which makes me even more inclined to think we will only get a C wave up. If your still interested in the buy, a buy stop or TL break and small flag is now the safest option in my opinion.
H1 Chart.
H1 Chart.