How to build a case for entry with pure technical analysis
Hi Traders,
I would like to show you how to build a case for entry with a pure technical structure analysis.
- We can see on the chart that price retraces to the 50% Fibonacci retracement
- Then it projected right on the 141.4 Fibonacci as I expected forming a nice Harmonic AB=CD move
- The RSI in entering the extended zone.
- The price entered the Daily demand area.
From that point we can add as much confluences to our score card to put more strengh to the probability of a winning trade i.e dropping down to lower time frame (1H, 15Min) to enter on a double bottom with bullish divergence...
Let's see how the market goes on and will keep update on this one.
Happy trading
I would like to show you how to build a case for entry with a pure technical structure analysis.
- We can see on the chart that price retraces to the 50% Fibonacci retracement
- Then it projected right on the 141.4 Fibonacci as I expected forming a nice Harmonic AB=CD move
- The RSI in entering the extended zone.
- The price entered the Daily demand area.
From that point we can add as much confluences to our score card to put more strengh to the probability of a winning trade i.e dropping down to lower time frame (1H, 15Min) to enter on a double bottom with bullish divergence...
Let's see how the market goes on and will keep update on this one.
Happy trading
Trade closed manually