Potential trade for next week penant on the 4hr pure price action.
What does everyone think the entry point would be for this trade?
Comment down below.
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Tell a friend to tell a friend.
I took this trade way earlier after the cross of the red support line and as you can see it is about to hit my target profit.
Tell a friend to tell a friend I want to see everyone eating right.
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The ichimoku is used to confirm trend direction but price action is always my best source.
When I trade I tend to use the higher time frames as I believe they are more accurate. The time frame I will be using in this trade is the 4 HR and the daily.
As you can see it is above the ichimoku cloud which is showing bullish on the daily time frame and it has also crossed the monthly resistance level and is signalling an uptrend , and has formed a flag...
I hope you all are doing great and having fun with trading.
I have a very nice setup on DXY daily chart to share here.
As we can see on chart a very strong Bullish Engulfing candle which is an early indication of trend reversal.
We are expecting an up move which could happen in possible two setups which i have shared on chart.
Note: Always trade USD...
Took this trade earlier at the break of the trend line when price was at 1.73633 and closed this trade at 1.74440 and closed out with £92.52 profit.
As you can see there was a flag pattern forming on the 4 hour chart I waited until after the 3rd touch of the resistance line to go in and trade and it broke out on the 4th time closed early but happy with my profits...
the monthly chart of this market shows that it will experience an uptrend but also you must be vigilant of the change towards the opposite direction
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the daily chart of this market shows that it will experience an uptrend but also it is better to be vigilant of the change of this market towards the opposite direction
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