PGNX POTENTIAL LONG
1W Chart:
* on the weekly chart if you look at recent data it is displaying the fact that the recent buyers are a lot stronger than the sellers
*one candle up from the buyer took out 6 candles down from the sellers
1D Chart:
*on this chart it is displaying the fact that the recent buyer had pushed price up above 4H structure and seems to be holding above this level
*the momentum on the daily chart also favors the buyers, giving us a higher probability for the long side trades
4H Chart:
* on this chart it is displaying that price has broken recent significant structure and has been holding above this level
* yesterdays candles display a weak re-test by the sellers into that recent 4H structure point
1H Chart:
*use this time frame for accuracy of entry as well as risk (stop loss)
ALWAYS have a strategic trading plan when approaching the markets. You want to stay disciplined to your plan no matter what the conditions are. ALWAYS remember trading is about probabilities, nobody knows with 100% certainty what the market will do next but with good probabilities on your side as well as proper risk management it could lead to a profitable and consistent path of trading.
Cheers! Keep an eye out! PLEASE like and follow me here on TradingView for more setups!
1W Chart:
* on the weekly chart if you look at recent data it is displaying the fact that the recent buyers are a lot stronger than the sellers
*one candle up from the buyer took out 6 candles down from the sellers
1D Chart:
*on this chart it is displaying the fact that the recent buyer had pushed price up above 4H structure and seems to be holding above this level
*the momentum on the daily chart also favors the buyers, giving us a higher probability for the long side trades
4H Chart:
* on this chart it is displaying that price has broken recent significant structure and has been holding above this level
* yesterdays candles display a weak re-test by the sellers into that recent 4H structure point
1H Chart:
*use this time frame for accuracy of entry as well as risk (stop loss)
ALWAYS have a strategic trading plan when approaching the markets. You want to stay disciplined to your plan no matter what the conditions are. ALWAYS remember trading is about probabilities, nobody knows with 100% certainty what the market will do next but with good probabilities on your side as well as proper risk management it could lead to a profitable and consistent path of trading.
Cheers! Keep an eye out! PLEASE like and follow me here on TradingView for more setups!