ANALYSIS IS WRITTEN CLEARLY AT CHART TOO.
SELL AT SUPPORT TURNED RESISTANCE
TRIPLE BOTTOM BROKEN, UNBELIEVABLE
USUALLY WHENEVER I SEE A AT W1 I WILL PLACE A SELL AT 50% OF THAT BAR.
176.95 WILL BE NEAR THE H4 50SMA AND 20SMA
THIS TRADE WILL STILL NEED CONFIRMATION AND IS NOT A SELL ON TOUCH.
OBSERVE THIS TRADE AT THE H4 LEVEL AS THIS REQUIRE A FAKEY CONFIRMATION AT 176.95.
PRICE SHOULD NOT CLOSE ABOVE 177.
IF IT DOES CLOSE ABOVE, THE NEXT H4 BAR MUST CLOSE BELOW 177. MUST.
MY H4 CHART FOR BETTER CLARITY REGARDING SUPPORT TURNED RESISTANCE
SUBSCRIBE LIKE AND COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
REALLY HELPS TO SEE MY IDEAS BEING APPRECIATED.
1) price will hit and go above 177.00. people who sold will have their SL around 177.30. Price will hit all their SL before plummeting down back towards 176.00
2) price hit 176.6 - 176.8 without triggering my entry and plummet down.
50% chance of either option happening. but option 1 is safer and more conservative and i advise option 1.
sell on touch (option 2) has low risk reward. not a good thing to follow for a trader in the long run.
Hope my explanation is good.