Continue downtrend, buy zone at .006 depending on reaction, no divergence just negative looking for this one. I put an alert at the level and I'll have a look if it is hit.
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1 - 3 weeks
Actions on -
A – Activating Event
Market will find support in zone @ Current Levels - .... and move to the 0.022 . In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 0.022
...
CHK shows signs again of no supply onto 1.2 (15th of Jan was prior test) a lot of volume after the trend line break and crossing large moving averages on volume. Had expanding demand follow price.
MACD and Stochs point to some more waiting for more supply onto 1.2 but are all currently trending up and still have a lot of room to move so may not take as long as I think.