Position: Long
Entry date: 05/25/2024 on daily timefrime.
Risk/reward: 1:2.37
Pros:
1) The quarterly trend is bullish.
2) The monthly timeframe shows a 2-2 Bullish Reversal pattern.
3) The weekly timeframe shows a potential 2-1-2 Bullish Reversal pattern that could trigger an entry on the monthly timeframe.
4) The daily timeframe shows a potential 2-1-2 Bullish Reversal pattern that could trigger an entry on the weekly timeframe.
Cons:
1) The weekly timeframe does not have continuity with the daily timeframe, but since it is an anticipatory entry, it is acceptable.
2) In a week, the monthly timeframe changes, potentially triggering entries but not reaching the TP and then reversing direction at the flip.
Entry date: 05/25/2024 on daily timefrime.
Risk/reward: 1:2.37
Pros:
1) The quarterly trend is bullish.
2) The monthly timeframe shows a 2-2 Bullish Reversal pattern.
3) The weekly timeframe shows a potential 2-1-2 Bullish Reversal pattern that could trigger an entry on the monthly timeframe.
4) The daily timeframe shows a potential 2-1-2 Bullish Reversal pattern that could trigger an entry on the weekly timeframe.
Cons:
1) The weekly timeframe does not have continuity with the daily timeframe, but since it is an anticipatory entry, it is acceptable.
2) In a week, the monthly timeframe changes, potentially triggering entries but not reaching the TP and then reversing direction at the flip.