Daily: Yesterday's candlestick closed as an indecision (doji) with a massive rejection wick to the downside.
4h: Market structure shift from bearish to bullish (LL, LH to High and now HL forming) and formed a classic head and shoulder trend reversal pattern.
1h: Market structure & direction clearer
Technical Keys:
Arrow Line:
solid: most probable move
dashed: possible move
Targets:
TP1: 0.64986
TP2: 0.65280
Horizontal lines - midpoint/decision point (supply/demand)
These are plotted based on a price midpoint: top wick meets previous bottom wick/bottom wick meets previous top wick = supply meets demand, demand meets supply.
Always remember to use proper risk management.
4h: Market structure shift from bearish to bullish (LL, LH to High and now HL forming) and formed a classic head and shoulder trend reversal pattern.
1h: Market structure & direction clearer
Technical Keys:
Arrow Line:
solid: most probable move
dashed: possible move
Targets:
TP1: 0.64986
TP2: 0.65280
Horizontal lines - midpoint/decision point (supply/demand)
These are plotted based on a price midpoint: top wick meets previous bottom wick/bottom wick meets previous top wick = supply meets demand, demand meets supply.
Always remember to use proper risk management.
Trade closed: target reached:
1h target reached. Trade closed successfully in profit.