Hi friends, I hope y'all are having a profitable week ;)
Today, we have a long-term buy trade on this baby. This trade is derived from the monthly time frame that has a huge bullish head and shoulder pattern that has its current price running in the L1 (small consolidation) and above the 200 m.a and short-term m.a's that are bullish crossed and retested. Having the price closed with bullish reversal candle and current forming a bullish candle, signals that the price wants to continue the patterns trend to/for its L2 and L3 together for the key levels that were previously broken and not retested. So that's just the preface of the monthly's current market condition, now let us take a look at this time frame to find out how the bulls and bears might behave in triggering or dis-confirming our trades.
Bulls: If the price bullish breaks and run above (but retest on the 4 hour) the 6th Daily Key Lvl (1st trade signal), and proceeds to bullish break and retest the 5th Weekly Key Lvl (2nd trade signal), according to the weekly: the price will be in prep to rally for the double bottoms L1, L3, and L3 together for all the m.a's trend; and according to the monthly: the price would be in a bullish candle formation in and above the H&S L1 - in prep to rally for the patterns L2 and L3 together for the short-term m.a's trend, once that happens, then we should BUY!...(E.1 & E.2)
Bears: -If the price decides to bearish break and close below the Daily Half a Bat Neckline 4 and 21 m.a (red), that will dis-confirm both trades.
This is not financial advise, but if you would like to hop on these trades with me, there they are:
BUY E.1@: 165.576
Lot Size: 0.05
S.L @: 161.851 (-0.92%)
T.P 5@: 192.502 (+7.53%)
R/R/R: 1:8
BUY E.2 @: 168.833
Lot Size: 0.04
S.L @: 164.651 (-0.91%)
T.P 4@: 192.502 (+5.22%)
R/R/R: 1:6
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know you thoughts!
Stay Blessed,
Doji.2k1
Today, we have a long-term buy trade on this baby. This trade is derived from the monthly time frame that has a huge bullish head and shoulder pattern that has its current price running in the L1 (small consolidation) and above the 200 m.a and short-term m.a's that are bullish crossed and retested. Having the price closed with bullish reversal candle and current forming a bullish candle, signals that the price wants to continue the patterns trend to/for its L2 and L3 together for the key levels that were previously broken and not retested. So that's just the preface of the monthly's current market condition, now let us take a look at this time frame to find out how the bulls and bears might behave in triggering or dis-confirming our trades.
Bulls: If the price bullish breaks and run above (but retest on the 4 hour) the 6th Daily Key Lvl (1st trade signal), and proceeds to bullish break and retest the 5th Weekly Key Lvl (2nd trade signal), according to the weekly: the price will be in prep to rally for the double bottoms L1, L3, and L3 together for all the m.a's trend; and according to the monthly: the price would be in a bullish candle formation in and above the H&S L1 - in prep to rally for the patterns L2 and L3 together for the short-term m.a's trend, once that happens, then we should BUY!...(E.1 & E.2)
Bears: -If the price decides to bearish break and close below the Daily Half a Bat Neckline 4 and 21 m.a (red), that will dis-confirm both trades.
This is not financial advise, but if you would like to hop on these trades with me, there they are:
BUY E.1@: 165.576
Lot Size: 0.05
S.L @: 161.851 (-0.92%)
T.P 5@: 192.502 (+7.53%)
R/R/R: 1:8
BUY E.2 @: 168.833
Lot Size: 0.04
S.L @: 164.651 (-0.91%)
T.P 4@: 192.502 (+5.22%)
R/R/R: 1:6
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know you thoughts!
Stay Blessed,
Doji.2k1