Position: LONG
Entry Price: 1.07701
Take Profit: 1.08807(115 Pips)
Stop Loss: 1.07199 (46 Pips)
Risk / Reward: 1 : 2.5 (2%)
4HR Analysis:
- Price break and retest
- Rejection at EMA SUPPORT (pin bar)
- Entry @ Fib .681
Daily Analysis:
- Break of short term trend line
- Daily closed above trend line (entry on retest) **Didn't wait for a confirmation on...
Similar set up to my prev post.
Confluence:
- Evening Star Pattern ? Correct me if i interpreted wrong..
- Doji @ EMA Resistance
- MACD Divergence
- Horizontal Resistance
- Strong resistance on weekly
R/R : 2.59
Duration: TBD
Results: TBD
Comments:
Trade has potential. Going against the trend, but has huge upside if goes in favor of my analysis. Worth it...
Moving forward, posts will be use primarily for journalizing purposes. Feel free to share thoughts and opinions on my analysis.
Confluence:
- Fib .50
- Doji @ EMA Resistance
- MACD Divergence
- Trendlines / Horizontal Resistance
R/R : 1.5
Duration: 2d
Results: WIN
Comments:
Set TP just before prev low. Had potential for further run down but ehh, felt iffy....
Multiple confluence:
- Hightest on Daily
- Confirmation price action in 4H
- Strong rejection on Weekly
PM me for full analysis: feel free to share thoughts... Did you guys catch this move as well?
Cheers,
Sang N.
Link for confluence checklist:
www.dropbox.com
Chart View:
www.dropbox.com
Please share and critique. Always open to different perspectives.
Cheers!
SangNguyen
ig: NguyenTrading_
Confluence checklist:
-Broke resistance @82.0000 & 200 EMA (looking at a potential reversal to retest. Possible quick 1:1 as price action could retest resistance turned support.
-Doji reversal set up (@83 level)
-MACD divergence
-ATR decelerating
-Chop Index < 60
Please share your thoughts and opinions.
Cheers,
Sang
Confluence checklist:
- Doji reversal pattern
- ATR decelerating
- Choppiness < 60
- EMA support (50,200)
- MACD divergence
Feel free to share your thoughts and opinions. Will update.
Cheers,
Sang
