As per the weekly chart, we can see that price has violated the weekly demand zone (yellow box) suggesting that seller is in control. Potential further downward movement.
Referring to the daily timeframe, new daily supply zone created (good selling point). It is also at 38% fibo retracement level. Potential TP is on the...
as per the weekly chart, we can see that price has reached the weekly supply zone (potential turning point - high on the curve - good selling point) after reacting to the weekly demand zone.
as we go lower into the daily timeframe, we can see that price has more potential to go up...
currently price is within the daily supply; which is within 50% - 62% fibo retracement level. in addition, that there's a sign of bearish divergent.
So I am planning to put sell limit within h4 supply and take profit on the opposite zone on daily demand.
This are just my thoughts based on the technical strategy that I used.
there's a potential sell setup on EURCAD
- h4 fresh supply zone (DBD)
- Fibo retracement level
- mid bb
take profit area at
- fibo extention level
- 1st or 2nd demand zone
- Support line
these's are just my thoughts.
as per the chart above, there's a possibility that price might rally to the PRZ
1- bullish divergent on h4 - price made lower low and MACD made higher low
2- price is currently within the daily demand zone ; which is also within the monthly and weekly demand zone (low on the curve)
3- a bullish flag - the break and retest of the upper downward trendline may...
As per the chart above, there's a potential setup that EURGBP would go short. Bearish divergent on h4 - where price made higher high and MACD made lower high. In addition to the bear flag pattern, suggests that price might go south. Take profit area is the length of the flag pole = % retracement level and potential PRZ (potential reversal zone) - where daily...
As per the chart above, we can see that price has been ranging for couple of weeks now. However, referring to my chart below - I still believe that price might have more space to go up before it starts to drop.
my buy setup is within the h4 demand zone which is roughly between 50% retracement level. or go to lower level to...
Last week, price created a new daily demand - possible suggestion that buyers are starting to come in. Buying setup with good Risk to Reward ratio.
I personally like to set and forget for my pending orders.
However, you can go to lower timeframe to look for a good buy zone.
as per the chart below,
all the best guys,
As per the chart I am looking for a buy setup. I've identified nearest demand zone on h4 timeframe. However I am only interested in looking at the 2nd and 3rd demand zone from the top. This is due to the amount of candle produce as a based. The first demand zone from the top, there's too many war (candles) going on. I am only interested to look at zone were the...
price has retouched on the newly establish h4 supply zone. set PO on h4 supply and place take profit area within the daily demand zone = 27.2 fibo extension. refer to chart for details.
thank you for viewing.
blessend trading everyone
Currently price is within the daily supply zone - possible drop soon. placing stop loss slightly above the daily supply zone and placing take profit on the daily demand.
refer to chart above for details.
thank you for viewing.
blessed trading everyone