As some legendary trader says: "as above, so below .." this is exactly what happened here so, this gives up an amazing long opportunity we still not sure if this is gonna work or not but our R:R is 10 so no worries
DO NOT OVER LEVERAGE THIS AND DO YOUR OWN RESEARECH BEFORE ENTERING ANY SIGNAL OR USING ANY IDEA THIS IS JUST A TRADE IDEA
Thanks for your attention
Do you look at pivotal zones, stochastics and RSI? Here is what I am looking at. Save and share the chart for other pairs.
These indicators are all free on Tradingview.
Disclaimer: I am not a financial advisor.
Looks like NYSE:GPS is following a strong retracement pattern, which it should fall back down on around the dark green, probably around the same level where it started the mountain. MACD histogram as well as the MACD/signal pattern seems to agree with this at least in the short term.
I would suggest buying once it gets back down around the $20 level, but it...
On the Weekly time frame we can observe that the candles are hitting the upper channel with a strong bull exhaustion. The Stochastic Momentum Index an the MACD on a Daily time frame are showing a bearish sign. I think we are going slowly in a distribution zone with sideways movements .
the mountain formation is completed and due to price action method its going be bearish for now so no profit in buying for now but stay tuned I will let you guys know how to do magic with classic indicators and price actions :)
you can earn $$$ with these methods in no time
CHFJPY-H4 - Potential The "Three Hills and A Mountain"
Trade : The first trade occurs on the close below the trend line. The second trade occurs after
completion of a 62% retracement to the downside-"AB." The second trade is a "long" trade
Target : The first trade target (Short) is 62% of prior swing length-"AB." The second trade
target is from the "C"...