Hi guys,
if you look left you can see that the zone we're testing now is a very important one, that acted both as support and as resistance multiple times. As you may know from my previous analysis, i usually look for trading zones on the daily chart and then go on lower timeframes searching for an additional confirmation of that bias. In this case i want to go long, and on the hourly timeframe you can see there's a double bottom with RSI divergence that supports my view, toogether with an RSI oversold touched on the daily and an engulfin candle on the 4H.
Order placed at the blue line, targets as shown and stop at the red line.
If you have ideas/questions, feel free to share below.
Otherwise, see you in the next chart!
if you look left you can see that the zone we're testing now is a very important one, that acted both as support and as resistance multiple times. As you may know from my previous analysis, i usually look for trading zones on the daily chart and then go on lower timeframes searching for an additional confirmation of that bias. In this case i want to go long, and on the hourly timeframe you can see there's a double bottom with RSI divergence that supports my view, toogether with an RSI oversold touched on the daily and an engulfin candle on the 4H.
Order placed at the blue line, targets as shown and stop at the red line.
If you have ideas/questions, feel free to share below.
Otherwise, see you in the next chart!
Order cancelled