Based on the momentum of the candlestick formation on the D1 timeframe, momentum is bullish. Scaling down to the 4H,we are able to deduce the critical support level and price managed to hold in this zone.
As we scale down to the 1H timeframe, we can see a variation of bullish candlestick partten signals forming on the critical support. ( Also notice the break of the zone which was previously a resistance level and is now acting as our new support level).
Entry Criteria is based on :
- The fact that we had a nice break and retest,
- bullish momentum on the daily,
- 4H closing above the critical zone,
- the bullish engulf that has formed on the 1H (which is the timeframe I personally execute trades on).
Cheers!
As we scale down to the 1H timeframe, we can see a variation of bullish candlestick partten signals forming on the critical support. ( Also notice the break of the zone which was previously a resistance level and is now acting as our new support level).
Entry Criteria is based on :
- The fact that we had a nice break and retest,
- bullish momentum on the daily,
- 4H closing above the critical zone,
- the bullish engulf that has formed on the 1H (which is the timeframe I personally execute trades on).
Cheers!