On monthly and weekly time frame price is bearish but the overall direction is bullish and the price rn is on a major support level the price got rejected 3 times so far cus of the high demand so I’m expecting it to reverse to the upside.
The daily price is not breaking the previous LL and it just gave me an L so this is another confirmation that the price is changing its structure to the bullish momentum and with that said imma be looking for buys only.
On the 4h m going to be waiting to see multiple rejections before any reversal or consolidation to look for my confirmations which are a break of the new structure a HH that the price made before reversing and strong bullish momentum for an entry.
I need to see a break of the new structure/resistance
Above the ema’s
Momentum bullish candle
1h entry will be after an engulfing candle
And above the 14/5 ema’s
SL; bellow a structure that the price won’t reach if it happens to retrace and close to the 200ema
TP; 1tp previous HH
2tp previous LH
The daily price is not breaking the previous LL and it just gave me an L so this is another confirmation that the price is changing its structure to the bullish momentum and with that said imma be looking for buys only.
On the 4h m going to be waiting to see multiple rejections before any reversal or consolidation to look for my confirmations which are a break of the new structure a HH that the price made before reversing and strong bullish momentum for an entry.
I need to see a break of the new structure/resistance
Above the ema’s
Momentum bullish candle
1h entry will be after an engulfing candle
And above the 14/5 ema’s
SL; bellow a structure that the price won’t reach if it happens to retrace and close to the 200ema
TP; 1tp previous HH
2tp previous LH
Trade closed: stop reached