We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe price is currently at a key level of support at the 1.32300 level. Last week formed a dojo candle at the key level of support which is a reversal signal. We still need to see more rejection here but it’s two indications that the market could reverse from this level.
On the H4 timeframe we already have the reversal taking place, Last week we saw a surge to the upside as price broke through resistance levels. We can now line up a long opportunity based on how price has pulled back to a key level of support here.
On the weekly timeframe price is currently at a key level of support at the 1.32300 level. Last week formed a dojo candle at the key level of support which is a reversal signal. We still need to see more rejection here but it’s two indications that the market could reverse from this level.
On the H4 timeframe we already have the reversal taking place, Last week we saw a surge to the upside as price broke through resistance levels. We can now line up a long opportunity based on how price has pulled back to a key level of support here.