PRICE HAS PULL BACKED ONTO TRENDLINE DRAWN AFTER FAKING TO CLOSE UNDER 90.00 LAST TRADING DAY. MANY CONFLUENCE PRESENT TO GO LONG FOR THIS TRADE. H4 50% RETRACEMENT TRENDLINE SUPPORT H4 200SMA AND 20SMA D1 20SMA PREVIOUS D1 ENGULFING PATTERN WILL ACT AS SUPPORT
HOWEVER, FORMATION OF VIABLE H4 PATTERN IS STILL NOT SEEN TODAY. IF PRICE CLOSES BELOW 90.00 WITHOUT TRIGGERING ANY VIABLE H4 PATTERN. TRADE IS INVALID. TRADE IS CANCELLED IF D1 CLOSES BELOW 90.00 EVEN IF TRADE IS TRIGGERED/i] PREFERABLE BLIND BUY AREA 89.7(IF YOU INTEND TO).
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Comments
PriceActionTrading
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SADLY NO RE ENTRY WAS MADE FOR ME.
HOWEVER, SL AT BE. NO LOSS TRADE FOR ME ALREADY. CONTENTED
PriceActionTrading
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D1 representation of my analysis.
NOTE: BUY AREA 89.4 - 89.7. SL IF D1 CLOSES 90.00 OR 88.7 (HIGHLY UNLIKELY). TP1 91.00 TP2 91.5 AND BEYOND.
HOWEVER, SL AT BE. NO LOSS TRADE FOR ME ALREADY. CONTENTED