Looks like wave 2 has completed after leading diagonal of Wave 1. Price currently retraces not more than 38% of Fibo. Therefore, i anticipate that Wave 3 is going to form and might be extended according to EW principle. Price also breaks out pivot area. TAYOR.
Fundamental: Mixed
Candle + Volume: Side way, not exhibiting any extreme condition technically.
Rainbow: Downtrend pause at the support line (Blue EMA)
Once breakout might indicate a reversal of the prevailing trend. Just KIV
TP = Take profit
EP = Entry Price
Cut loss when breakout Support level
Smartmoney in accumulation , still low ,momentum building ready to spike
Butterfly pattern emerged , if reached target TP02
Channel pattern
1. Krono weekly start to make an uptrend with the downtrendline broken and EMA 10 > EMA 30 > EMA 200. Now in Wave 4.
2. Reversal candle formed (hammer then bullish candle) at 0.5 Fibonacci level. Also RBS. Previous reversal on Wave 2 is also at 0.5 level.
3. Isaham Revenue and profit indicator in an uptrend, PE 0, WAFV 0.
Trade ideas for this counter.
LS-Left shoulder
RS- Right shoulder.
Entry base on inverted head and shoulder reacted at SSR-significant support resistant.
CL if break HEAD
Happy Trading
Tayor
As we can price already breakout TL H4 . Looking for buying opportunities if they are reversal sign ,buying structure form at lower TF or compression near to support area. To be safe wait until price reverse back to the breakout area before enter market, TP at nearest resistant and SL after break support.
**Disclaimer
This account is my personal journal in...
