Wait until resistance level is achieved, from there hoping to see 1st TP at previous support level, should this be broken, I will be targeting the bottom of the ascending triangle with a TP of roughly 230 pips and a RRR of 4.88. 1st TP would be 83 pips with 2.47 RRR.
On the hourly we can see that price has been consolidating a bit, and ranging. However, we have been unable to close above any of the moving averages. We do however, have a smaller level of support around the 131.61 area. If we can retrace down to this we could see a bounce back to the tl of around 60 pips. Or a break which would indicate that we would be looking...
updated analysis on EN - we had a rejection of the 50 EMA, however i can waiting for a tap of the 20 EMA, if we can reject this i think price will continue falling to perhaps the bottom TL
GJ not looking too clear to me, we have a second bounce of the ascending daily TL which so far we havent closed below. on the 4hr we can rejected off of the trendline and printed 2 small bullish candle, if we can close above the EMA we could see a buy opportunity. on the hourly we can see a rejection off of the 20 EMA, again, if we can rise above this i will look...
rejecting the daily descending tl on the 4th tap, hourly we can see a rejection of the 50 EMA, 4hr we are nearing the 61.8 fib, if we can break this I will look to go short, if not expect a rejection to the TL and a possible short position to form.
Waiting on a touch of the 61.8 fib before placing a long position to around 110.00 at the next level of support. Multiple rejection off of the daily ascending touchline.
We could see a retracement upto the support zone for a short opportunity. However, we are currently sat on the daily TL so we could see a further short to the daily support area if price can break this trend line.
Almost nice rejection of the daily TL, followed by retracement to the resistance area followed by a rejection. Currently consolidation around the support zone. Possible long back to the daily TL dependant on the reaction of the 4hr TL.
4hr. sat within the support zone.
1hr. nice break of the 50 day ema, possibly indication of a change in momentum
Also nice rejection off of the daily ascending trendline.
