Blue Palm Institute Setup 💎
Pair💰: GBPNZD
Weekly Time Frame🖥️:
Weekly Excelsius View🖥️:
Daily Time Frame🖥️:
Daily Excelsius View🖥️:
4 Hour Time Frame🖥️:
4 Hour Excelsius View🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: With how the weekly time frame is forming, we respected the Lower Low of the weekly time frame and are now showing some signs on a retracement. This should be expected as price has been extremely extended for weeks now.
Daily Time Frame📚: Price broke above the daily lower high and broke above the daily rejection zone. With this, this can support our bias on buys above the next daily lower high. For sells, we can look for aggressive sells once price breaks below the past daily lower high which can lead us into the daily lower low. Getting past the daily lower low will be the hardest part
4 Hour Time Frame📚: For buys, We should wait for the 15 minute time frame to break above the daily lower high 1.91643 and then form a new 15 minute higher high. Once the higher high gets a single candle break above this, we can enter for buys. If the trade is not a 1:1 RR when going to enter, do not take the trade. The First Take profit in this case would be the daily lower high right above. If the 1:1 is not there, wait till price breaks the next daily lower high with the same set of rules. For the aggressive sells, lets wait for a 4 hour candle break below the past daily lower high then a new 4 hour low formed. Once the 4 hour low is formed, wait for a candle break below the 4 hour low on the 15 minute time frame. If we don't get the 1:1 in this sell, wait for a 15 minute break below the daily lower low, new 15 minute lower low to form, then a break of the new 15 minute lower low.
Pair💰: GBPNZD
Weekly Time Frame🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: With how the weekly time frame is forming, we respected the Lower Low of the weekly time frame and are now showing some signs on a retracement. This should be expected as price has been extremely extended for weeks now.
Daily Time Frame📚: Price broke above the daily lower high and broke above the daily rejection zone. With this, this can support our bias on buys above the next daily lower high. For sells, we can look for aggressive sells once price breaks below the past daily lower high which can lead us into the daily lower low. Getting past the daily lower low will be the hardest part
4 Hour Time Frame📚: For buys, We should wait for the 15 minute time frame to break above the daily lower high 1.91643 and then form a new 15 minute higher high. Once the higher high gets a single candle break above this, we can enter for buys. If the trade is not a 1:1 RR when going to enter, do not take the trade. The First Take profit in this case would be the daily lower high right above. If the 1:1 is not there, wait till price breaks the next daily lower high with the same set of rules. For the aggressive sells, lets wait for a 4 hour candle break below the past daily lower high then a new 4 hour low formed. Once the 4 hour low is formed, wait for a candle break below the 4 hour low on the 15 minute time frame. If we don't get the 1:1 in this sell, wait for a 15 minute break below the daily lower low, new 15 minute lower low to form, then a break of the new 15 minute lower low.