XAUUSD - Watch Out! - H4/H8 - NICE OPPORTUNITY
The story starts the 31st May 2021 with a M1 Force pushing the market down from 1900 to 1700.
While the M1 force is on its way, it meets a W1 force the 29th Sep. 2021 at 1724 (Thick Demand Zone on D1). The energy of the W1 force should bring the price up to 1800. Then the energy fades because M1 weakens the W1 force by 4. TP is 1800 instead of 1900.
From 1800, price is resuming its M1 direction, to target finally 1700.
Now what you should be expecting on a lower time frame: The momentum
It will happen on H8.
We are looking for either:
- H8 REJECTION CANDLE + H2 ENGULFING PATTERN OR DEPLETION CANDLE
(ENTRY JUST AFTER THE H2 PATTERN FORMED)
OR H4/H8 ENGULFING PATTERN
(STARTING WITH A REJECTION CANDLE)
(ENTRY JUST AFTER PATTERN FORMED)
OR TWO H2 ENGULGING PATTERNS
(ENTRY JUST AFTER THE 2nd PATTERN FORMED)
The more you wait for the momentum, the better your reward risk will be.
Expect minimum 7 to 10 RR for this opportunity.
While the M1 force is on its way, it meets a W1 force the 29th Sep. 2021 at 1724 (Thick Demand Zone on D1). The energy of the W1 force should bring the price up to 1800. Then the energy fades because M1 weakens the W1 force by 4. TP is 1800 instead of 1900.
From 1800, price is resuming its M1 direction, to target finally 1700.
Now what you should be expecting on a lower time frame: The momentum
It will happen on H8.
We are looking for either:
- H8 REJECTION CANDLE + H2 ENGULFING PATTERN OR DEPLETION CANDLE
(ENTRY JUST AFTER THE H2 PATTERN FORMED)
OR H4/H8 ENGULFING PATTERN
(STARTING WITH A REJECTION CANDLE)
(ENTRY JUST AFTER PATTERN FORMED)
OR TWO H2 ENGULGING PATTERNS
(ENTRY JUST AFTER THE 2nd PATTERN FORMED)
The more you wait for the momentum, the better your reward risk will be.
Expect minimum 7 to 10 RR for this opportunity.