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LLOYDS BANKING GROUP PLC ORD 10P, VAST RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), CANADIAN OVERSEAS PETROLEUM LIMITED COM SHS NPV (DI), VODAFONE GROUP PLC ORD USD0.20 20/21, TESCO PLC ORD 5P
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61 fib , price action , tl break
simple tl break on uj wit 4hr higher lows and highs
Weekly bullish engulfing
Weekly 61% fib rejection
Weekly Daily TL break
Higher Highs , Higher Lows
Break retest of 1.00000
50ema acting as support at the 50% fib
When you son in together the WEEKLY / DAILY / 1HR you can achieve great risk reward trades such as this 1:5
confluences c legs on weekly , daily , 1hr , ma's , pivots on 1hr
weekly bearish engulfing , daily shooting star , 1hr reversal
Order triggered on gj after a strong support, trend line , neckline break. We decided not to enter on the right shoulder at 50% as we checked back in history and found the 142.500 area (highlighted in grey) a bit risky to trade above it so we took a more conservative approach and set the order underneath where we had a lot of space for the market to drop into if ...
We have been triggered into Eu once the daily formed a shooting star reversal candle of the 50% fib confirming a lower high and C leg. Scaling into the smaller time frames we have spotted a CTL break and double top of the 50% fib level with our order just underneath on the 4hr.
USDCAD has formed an inverse head & shoulder pattern on the 4hr with daily showing signs of the bulls coming back and price reacting to the 78% fib level a mayor trend line zone of a weekly Chanel with a possible yet another higher low forming.
Order set above the Inner TL once it has broken on the 4hr which is also the 4hr inverse h&S neckline.
The main ...
a1 set up
Retest of MA , TL, Fib
Long on AN