Omar_Little

Omar_Little

weekly candlestick taking a strong hammer shape - therefore expecting long term price to rise (daily chart's last four days show rise rebounding of ~weekly support level). make two trades, set stop limit and TP1 as marked, with TP2 at 128.316 (long term 0.5 fib expansion level). bat pattern seems to have been ignored - possibly signalling continued long term...

Omar_Little

following on from previous analysis using daily chart, the weekly chart looks to be showing reversal signals. A long term reversal should be considered if bat support level is passed, and confirmed if breakout bar level surpassed.

Omar_Little

If daily support broken, go short to TP1 (1) - previous break bar level. If TP1 (1) surpassed, then go short again to other TP(2)s at .382, .50, and .618 retracement levels (unless these retracement levels drop below weekly support level) - once .382 reached, adjust SL for other trades. However, circled candlestick could indicate the long term trend will continue...

Omar_Little

If weekly resistance broken, go long. if weekly support broken, leave it.

Omar_Little

go short if daily support broken, most likely will reach 23.6% retracement. Once reached, adjust SL for others