Candle Sticks: Tweezer bottom at the new LH.
Support & Resistance: Support at LH and Resistance at TP1 and TP2.
Fibonacci Retracement and Extension: Retracement level of the previous rally is around 0.6 and the next HH would be around 1.2-1.4
Candle Stick: Inverted Hammar at new HL
Support & Resistance: Price is testing 1D support.
Parallel Ascending Channel: Script is moving between this.
Fibonacci Retracement: Price has retraced up to 0.5 level of the fib.
SL: Previous HL
TP: Fib extension 1.2
Trend: Overall Bearish Trend
Candle Sticks: Shooting star at the recent LH.
Resistance: 4h Resistance Level
Parallel Ascending Channel: Break
Fib Retracement: The current price is at 0.5 of the previous bearish rally.
Reasoning: 0.5 Fib retracement, channel breakout, and shooting star indicate that price will likely go down from here.
Trend: Overall bearish trend
Candles: Several hammer candle formation indicates prices can go up.
Support & Resistance: Price is respecting 4h & 1D resistance levels.
Descending Parallel Channel: The price is moving within the channel.
Trend: The overall trend is upwards.
Candle Sticks: Double bottom formation near the resistance area.
Resistance & Support: Price is respecting the 1D resistance area.
Reasoning: The formation of the double bottom near the resistance area indicate a small pump in the price.
TP: Near the support level.
SL: At the previous LH of the chart.
Trend: The overall trend of the chart is downwards.
Candle Sticks: Formation of shooting start at the LH of the chart.
Support & Resistance: Price is testing the 4he resistance area by making an LH with a shooting star.
Reasoning: The formation of a shooting star at the LH of the 4hr resistance area strongly indicate the price will go down.
SL: Place at the...
Trend: The trend reverses as it has made a LL and LH.
Candle Sticks: Bearish candle stick at LH of the chart.
Parallel Descending Channel Resistance: The candle is formed at the channel's resistance.
So the overall reasoning for taking a short from here is trend is downward making a descending channel with the formation of evening star at the channel resistance...
Trend: The overall trend of the 1hr chart is upwards.
Candlestick: Formation of the first green candle at the support of the channel.
Upward Parallel Channe: You can clearly see an upward parallel channel and the price is bouncing back from the resistance of the channel.
SL: At the previous LH.
Trend: Bearish trend followed by LL and LH.
Support/Resistance: Blue lines are S/R levels on 1D while red lines are on 4h timeframe.
The reason behind the Short: A hanging man was spotted near the 4hr resistance at the LH of the chart. It indicates the potential downfall of the price towards the lowered support area.
SL: It is placed on the previous LH of the...
Trend: The overall trend of the script is downwards. Making a series of LL and LH according to DOW theory.
Support and Resistance: Blue lines indicate the S/R in the weekly time frame while red lines indicate it in the daily and 4hr time frame.
Short Position Justification: Two bearish candles spotted on the LH of the chart, just below the daily resistance which...
Trend: Downtrend according to DOW theory a series of LL and LH
Reason for Taking Short: A formation of Bearish Engulfing Candle at the LH of the trend right at the resistance level indicates a downfall in the price.
SL: At the privous LH of the trend.
TP1: At the nearest support of the trend.
Down Trend: A series of LL and LH
Short Reason: An entry was taken upon the tweezer top. It indicates that the price will move downwards from this point.
Support and Resistance: Blue lines show the weekly support and resistance whereas red lines show the daily resistance.
SL: It is placed at the previous LH of the chart.
TP: First TP is near the closed support...
Trend: The overall trend is downwards as it is making a series of LL and LH according to DOW theory.
Reason for taking Short Position: A formation of the tweezer top at the LH of the chart indicates the price will move downwards from here and touch the bottom of LL.
TP1 is set to the LL of the chart where as TP2 is set to the next resistance level.
SL is placed...