Since the beginning of the year we have been in a very strong downtrend, but technically the trend has turned bullish on the 4H-Chart as soon as the Blue Structure level was violated after forming a Head & Shoulders.
Since the breakout the price has been in a strong upward movement until the RSI became extremely Oversold and on the next resistance in Green. Since then, the Price is getting some seller pressure.
If the price respects that resistance, it opens up 2 good opportunities to get long.
Scenario 1 (Green Arrows): This scenario is my preferable one, because:
Scenario 2 (Yellow Arrows): This scenario is also a possible long opportunity if the price does not break and close below that area, because if it does, I will no longer be interested in a Buy, also on this scenario my targets would be more conservative: instead of aiming for an extended target I would only buy for a retest @7.5k for Target 1 and Target 2 a retest of the previous High @9k.
If you like the Idea give it a thumbs up, leave a comment if you want to discuss it or have any question.
Take care & Happy Pip-Hunting
Since the breakout the price has been in a strong upward movement until the RSI became extremely Oversold and on the next resistance in Green. Since then, the Price is getting some seller pressure.
If the price respects that resistance, it opens up 2 good opportunities to get long.
Scenario 1 (Green Arrows): This scenario is my preferable one, because:
- Breakout Confirmation of the Blue Structure
- Breakout Retest of the Head & Shoulders formation
- Fibonacci Confluence (61.8% from last leg & 38.2% from last bottom)
Scenario 2 (Yellow Arrows): This scenario is also a possible long opportunity if the price does not break and close below that area, because if it does, I will no longer be interested in a Buy, also on this scenario my targets would be more conservative: instead of aiming for an extended target I would only buy for a retest @7.5k for Target 1 and Target 2 a retest of the previous High @9k.
If you like the Idea give it a thumbs up, leave a comment if you want to discuss it or have any question.
Take care & Happy Pip-Hunting
Trade ist aktiv:
The price tested of the blue area during Saturday and then I waited for a Higher High & Higher Close candle which happened yesterday on the 8 AM Candle @ 7950
Trade geschlossen: Ziel wurde erreicht:
Target 1 @ 9k
Trade ist aktiv:
Target 2 is @ 10,5k and stop-loss was trailed to break-even.
Since the breakout the price has been in a strong upward movement until the RSI became extremely OVERBOUGHT and on the next resistance in Green. Since then, the Price is getting some seller pressure.