4h currently sitting in high demand area. uptrend daily trendline has broken, looking for that retest to happen on the support area of the trendline and wait for a confirmation signal to sell! my targets have been placed!
on the daily timeframe i have drawn an uptrend wedge pattern! as it is climbing to near breaking point, just how much further can it go to near breaking point? I dropped down to the 4H timeframe and drawn my S/R targets to reach if only it restests the resistance on the daily timeframe which to then i can place an sell order for a good price and give me a good...
i have setup my chart with a lovely confirmation of two strong trendlines going in only one direction! to me this is a strong bullish sign of a breakout to happen to hit the next daily high! i will be waiting for that possible retest for a confirmation signal for my entry on the 5M - 1HTF (less experience please use 1H)! please be risk assured as this is at a...
the 4h trendline is coming to an end by a daily s/r. the 4hr is being squeezed and the 1hr chart shows it will make a return to daily/4hr resistance to then give it the momentum it needs and crash through that trendline and headback down towards the daily/4hr support shown in the diagram on the chart.
So, in the 4H chart we can see A head and shoulders pattern created. We can till a breakout has happened surpassed the trendline to break through the support zone on the 4H, wait for the retracement (pullback) Then place a sell order and let it ride to the DAILY support area.
as i can see on my chart it has provided me a triangle pattern which is sloping down as a downtrend but also consolidating and squeezing pressure. I'm waiting for the next retest @ the resistance level to place a sell and reach my target provided.
currently sitting in the %40 region of my symmetrical triangle, I looking for it to break both supports to then enter the %60 region of the triangle. from then on I am looking for the continuation to %70 - %90 to apply the pressure on the support of the larger triangle looking for the signal breakout to reach my golden line of 1.14753.