Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
Overall this market is still trending to the upside, moving inside a strong ascending channel.
Very poor trading activity to the lower value of the channel is still a clue of strong uptrend and no really clear sign of trend reversal.
However the price is retesting a local key level and the possibility of market retracement is quite high!
When, where and why would I step into the market?
Usually, during this kind of market situation, I prefer entering long or short from the top or bottom of the channel, having less risk and better RRR.
However I think this market could still give us some good opportunity.
First of all, in lower timeframe (1h and 30min) I will be looking for some continuation pattern and in the current timeframe I will be waiting for the price to reach and retest the current key level, looking for a good entry point with RRR of 1:2 or greater.
In this specific situation, my SL would be above the resistance level and the first TP just around the price control.
In the scenario of market continuation to the upside, I will focus on a possibility a rejection around the top line of the channel.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
Overall this market is still trending to the upside, moving inside a strong ascending channel.
Very poor trading activity to the lower value of the channel is still a clue of strong uptrend and no really clear sign of trend reversal.
However the price is retesting a local key level and the possibility of market retracement is quite high!
When, where and why would I step into the market?
Usually, during this kind of market situation, I prefer entering long or short from the top or bottom of the channel, having less risk and better RRR.
However I think this market could still give us some good opportunity.
First of all, in lower timeframe (1h and 30min) I will be looking for some continuation pattern and in the current timeframe I will be waiting for the price to reach and retest the current key level, looking for a good entry point with RRR of 1:2 or greater.
In this specific situation, my SL would be above the resistance level and the first TP just around the price control.
In the scenario of market continuation to the upside, I will focus on a possibility a rejection around the top line of the channel.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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