Weekly: There is a channel forming and an upward trend
Daily : bullish railroad pattern seen and price is bouncing away from the trend line showing validity of the trend line as well as expected upward movement . Keep in mind there is a daily resistance at 135.245 , hence we can expect upward movement to 135.245 or reverse on this resistance.
If this resistance is broken on the 4hr then we can expect further upward movement
4hr : price just broke 15 ema and also broke a minor resistance formed and creating an upward triangle with a strong minor support at 134.609 and 134.497.
depending on direction of price although a bullish engulfin patern as been formed , if it breaks 134.609 then we expect price upwards
1hr : price crossed 15 and 30 ema creating an upward trend also , expectig a retracement to 134.358 which is 38.2 fib level drawn from 133.607 to 134.820
15 min : since an uptrend is expected , two levels of interest are observed that is 134.426 which 0.382 and 134.359 which is 0.5 fib level
as prices approach these levels buy stop will be placed above at 134.432 with sl at 134.339 and tp at 134.607
expecting a 2 risk reward ratio
tp2: 134.765 : 3.98 risk reward ratio
feel free to correct me and share your opinion
Daily : bullish railroad pattern seen and price is bouncing away from the trend line showing validity of the trend line as well as expected upward movement . Keep in mind there is a daily resistance at 135.245 , hence we can expect upward movement to 135.245 or reverse on this resistance.
If this resistance is broken on the 4hr then we can expect further upward movement
4hr : price just broke 15 ema and also broke a minor resistance formed and creating an upward triangle with a strong minor support at 134.609 and 134.497.
depending on direction of price although a bullish engulfin patern as been formed , if it breaks 134.609 then we expect price upwards
1hr : price crossed 15 and 30 ema creating an upward trend also , expectig a retracement to 134.358 which is 38.2 fib level drawn from 133.607 to 134.820
15 min : since an uptrend is expected , two levels of interest are observed that is 134.426 which 0.382 and 134.359 which is 0.5 fib level
as prices approach these levels buy stop will be placed above at 134.432 with sl at 134.339 and tp at 134.607
expecting a 2 risk reward ratio
tp2: 134.765 : 3.98 risk reward ratio
feel free to correct me and share your opinion
Trade closed: target reached:
tp 1 and tp 2 reached
tp 3 at 135.194 reached
tp 3 at 135.194 reached