I took a little closer look at this, and the closer I was looking, the bigger the picture was needed, in the end 6 month chart was finally revealing what is going on. I would be only lookign at longs
6 MONTHS LONG:
I am expecting to break previous highs (1,07799) on 6 months and deeper penetration in supply zone. ...
- W1 looks long from demand
- D1 looks a perfect red channel, and bouncing off nice s/r
- H4 positive RSI divergence, and I would like to break that s/r line thats seems to hold importance
- H1 nice red channel and black line resistance, so I would like to break red channel AND black dotted line and buy a retest
sorry for the late entries, I kidna started today with my ideas so I am just posting than. So this is a little aggressive approach but, H4 trendline is broken so we can take supply levels, in H4 supply there was a nice H1 supply taken by the rules, now target could be a fresh demand at 1,05. It's still a long way ...
late to the party/so only shorting supply zones, H4 is in downtrend so target is potentially 1,29245, depends how 1,3 level will hold, that demand is already used a lot, so shorts have better probability