4H Chart Explanation:
- Price is close to the All Time Highs Zone.
- Price is on an strong Ascending Trendline.
- If price breaks the Resistance Zone, it has potential to move up towards the Fibo Levels.
Updates coming soon!
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 131.10
• Take Profit Level: 132.50 (140 pips)
but i believe this will drop on earnings and then slowly rebound up. So I will place my trade in after the earnings are reported. Tomorrow morning. I am long on this but I already have a WFC position and I can't risk two trades going against me.
Hey gang! Hope everyone is doing fine on a Sunday! Found a potential Head and Shoulders reversal pattern that could result in a good long trade! Some confluence here points towards this:
-Trend line broken and retested a Fib level at 23.6 level.
-Fib level 23.6 had a false breakout and a large bullish candle just pushes it right back into a bullish...