-Ascending oblique, 3rd contact
-H4 strong support area
-Buy on H4 engulfing near the oblique.
-If it breaks, we will forget about buying and sell until next support at 1.11
-Prices are very low on the monthly timeframe. We started to reverse the trend, and we will soon see a bullish trend.
-Prices broke the Daily CTL and made a pullback on it today.
-Instant reaction of buyers => bullish signal.
-Daily bullish engulfing
-Bottom part of the ascending channel
-Watching low timeframe pullback to enter
-SL under the last lower low.
/// If our SL is hit, it means that Friday was just a bait, and that downtrend will continue on medium term...
Thus, I will focus on the charts and try to find another setup with a clear vision of the market.
Français:
-Partie...
-Rejection of 79, and forming lower lows on H1. Expecting another intraday lower low, risk 4/5 no signal.
-On H4, much more potential, with a stop loss above the last rejection of 79.
-Double ascending oblique
-Bullish engulfing on the first oblique
-Support area
#Wait the break of the H1 Counter Trendline to Buy.
TP1 1.144 TP2 1.16 TP3 1.173 SL 1.134
We are currently facing an accumulation in H4. If it breaks down, we can sell it with a low leverage and little Tps. But I would prefer if it breaks UP. Wait for a break and H4 close above the trendline. Then, Buy.
Multi-TimeFrame analysis. Huge Monthly Price Level, expecting a pullback in the green rectangle, from here wait a H4 signal to buy. If no pullback happens, wait a clear break of the Daily SMA50, and buy after the close of the candle.
TP3 is very high at 1.21 if you wanna let a little part of your position until here.
