Why will I enter?!
Daily: Price is in a support zone. Stochastic is approaching bottom of the stochastic. This tells me that price should test resistance soon. Used Fib to track up to 50% of most recent high which near the resistance zone. Line is at 50.97. Last time price was around this range it shot up.
4 Hour: Stochastic is at the bottom of the line. This would normally tell me that price should test the resistance at some point. Line is at 27.08. Last time price was around this range price shot up.
1 Hour: Stochastic is approaching the top of the line. This tells me that price should test the resistance soon. However, I expect price to fall just a bit before it rises to resistance.
15 min: Stochastic is at the top. Tells me that price should fall at some point. However, I see no new lows are being created. Looking for buy limit or buy stop.
5 min: Stochastic is approaching the top of the line and no new lows are being created.
• Market Execution (Buy Stop activated @23.503)
If you agree I would appreciate your LIKE, FOLLOW, OR COMMENT
If you disagree let’s talk this thing out!
I’m a new trader looking to learn and grow with this great community so let’s work!
Hope your trading week is going well!