Every stops being taken out is to service one of the purpose =
A) to push the price further in the institution trader's intention of price manipulation towards their ultimate intention i.e their ultimate intention is to buy at a low price say 1.0000, so they take out some stops at 1.0500 to provide liquidity for the short term move towards the cheaper price at...
Seems like a great setup. Price cant get through yearly pivot support2, overextended. Last hour candle was bullish pinbar off yearly s2. RSI is like Xray, helps to detect the decease. AD volume of SGDJPY is in long term bullish uptrend on daily.
Chart time frame - H4
Timeframe - 4-12 Hours
Actions on -
A – Activating Event
Market will meet resistance in zone @ 79.5 - .... and fall to the 79.15. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @...
Waiting for entry by setting up crossover alert on the slow stochastic.
Use stocktwits to verify safe fundamentals before entry
Where it goes after this target is beyond me. Mixed signals means move on to something else.
Buy Limit @ 79.05
Protective Stop Loss @ 78.80
Take Profit @ 79.45
Buy Un-Filled Orders (Green UFO ) available in the 4h time-frame
Sell Un-Filled Orders (Red UFO ) further above allowing for the current trend to continue developing
Higher time-frame moving average values or Fibonacci retracements coinciding with the...