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Price is moving in a channel. The corrective structure which looks more like a wedge has finally broke, forming an inside bar formation after the break. I placed my buy stop order at the top and the SL at the 50% retracement of the mother bar. I expect the price to move to 1370 area.
Weekly level breakout, corrective move, pin bar reversal.
This might be a sign of a correction at least.
Pin bar reversal signal.
This might be the end of the corrective structure. Although short term momentum is still down we can see a strong engulfing pattern at the weekly level. I will try to get a better entry at the 50% retracement of the engulfing candle.
Corrective structure. Channel. Support. Pin bar reversal. Uptrend.
A false break above the congestion area and then below which is now acting as resistance. Trying to get a better entry at the 50% pin bar retracement. In confluence with weekly level and EMA's.
Inside bar formation below the weekly level, a break above might open path to 1.88 area.
Inside bar formation after the brake of the weekly level. I placed my stop at 50% retracement of the mother bar. I will also trail it after the ongoing candle, if it will be strong enough.
Engulfing pattern formed bellow the weekly level. I placed my limit order at the 50% retracement of the engulfing candle. A lot of profit margin. Counter trend.
Price reacting from the weekly level. I placed my entry at 50% retracement of the pin bar which is also the weekly open. Expecting a move to 1330 area.
A break above will open path to 1.6340 area.
Weekly level is still holding, after a 3 candle corrective move it formed an engulfing pattern. I placed a limit order at the 50% retracement level of the engulfing pattern. If the price will continue to move higher I might look for continuation patterns on smaller time frame. If the price will move 2R from my entry point then the entry will no longer be valid.
Price reacting from 50% of the last impulsive move, which was a reaction from a weekly level. I placed a limit order at the 50% retracement of the engulfing candle. This allows me to have enough profit margin. Expecting the price at 1.2440 area and even higher.
Price reacting of the weekly level. I placed a limit order on the 50% retracement area of the the pin bar. Expecting the price to go to 0.89 area where I will be looking for a short signal.
Entered on 50% retracement of the pin bar. Expecting the price to go to 83.00 area where I will be looking for a short signal.
Entered on the 50% retracement of the pin bar, below the weekly level. Expecting the price to go lower to 1.89 zone. A break above will open for longs.
Pin bar reversal at daily level. Low probability trade.