JackJoseph11

JackJoseph11

Looking at what previous price action has done on the 1 hour timeframe i can clearly see the 50ema has been well resected adding to that its pullback and react to recent Support and Resistance along with a Fibonacci retracement. I am now waiting for this to retrace back to my zone of confluences stated on the graph and will wait to get in.

JackJoseph11

Today has been a unusual day in means of been able to tick boxes for my conformation... I found a fantastic bearish setup today and previously which met my requirements.

JackJoseph11

Broken down chart to show you before and Present of what i think the market is doing.

JackJoseph11

I have listed as much detail within this chart a winning trade of mine today.

JackJoseph11

Here i have explain my reasons for a Bullish movement on the chart.

JackJoseph11

Today i am using the 6Ema to find a solid support to work off. - Trigger - Bullish engulfing - Previously tested strong 6 Ema - Direction of trend used with Trend line - Waited for break of Resistance for clear run

JackJoseph11

- 50Ema Bounce - Fibo retraced to 50% - Strong support Lets see what happens here i see price has broken out of the range but i do see bulls being in controls with the trend line test, and other confluences stated.

JackJoseph11

My Idea, - Trendline test - Major support/Resistance levels - Fibo 61.8% - Hidden Divergence Looks to be it never come down to previous low, Could be retracing to then heading down in the right direction as planned.

JackJoseph11

Very strong setup... -50Ema Bounce -Hidden divergence -Trendline test -Major support level