Gold has built up bullish momentum on 1h ahead of the weekend and wick has pierced resistance level.
Failed to break back in with strength on 15m.
Tight
3:1 RRR
BULLISH LONG TERM
- PRICE TRADED INTO A WEEKLY BULLISH ORDER BLOCK
- LOOKING FOR PRICE TO TAKE OUT BUY SIDE LIQUIDITY
IF WEEKLY OB IS'NT RESPECTED 1.1000 IS THE NEXT LEVEL OF HINDRANCE/ SUPPORT
- THIS PAGE IS'NT FOR OTHER TO COPY BUT FOR PERSONAL GROWTH. OVER THE PAST YEAR YOU CAN SEE
I'VE ADOPTED A NEW STYLE OF TRADING MOVING FOR RETAIL TO INSTITUTIONAL...
Confluence:
Confirmed - Falling channel on 4h
Confirmed - H+S with LL on RH shoulder.
Not confirmed - If price retraces to entry position and drops it will cross 50sma confirming move.
Tight SL gives 3:1 RRR
#confluence
Price has respected rising channel that was confirmed in October on 4h.
Price has been climbing steadily on 15m. I expect a minor pullback of 10-20 pips with around 60 pips return. I expect price to rise higher but this TP will lock in profits before a bigger retracement and another entry on the same move.
THERE IS A CLEAR PINBAR FORMATION.
All we got to do is wait for the confirmation of the following candles. For me, 90% of the time, a PINBAR like this one usually holds and allows for a reversal.
A double bottom is simply the opposite of a double top. This pattern normally occurs during a downtrend and is a signal of a reversal of the downtrend toward an uptrend. It’s easily recognizable by its resemblance to the letter “W”. The initial downward move will find a support at the first bottom and then the price action will rally off the support to a temporary...
Using AZV indicator with Profile Analysis
Buy signal: (Bounce back ) ( Breakout )
Profile Sell Target : 185 SATS
AZV Sell signal : AZV - NO of bars = 30 & Multiplier = 2
AZV Signal type = Open Target
AZV indicator link :
