Assuming:
PA breaks and closes above HH retest @1.84232
PA respects rising trendline.
RSI respects rising trendline.
Then:
Long trade – entry 8 pips recent high (and 9 pips above SR double touch 23 May and 24 May). I plan to make the trade real time, not with a stop since the market is closed and we all have gotten screwed by that before.
SL 4 pips below recent HH.
TP 3 pips below SR (LL w/ double touch 8 May and 9 May).
PA breaks and closes above HH retest @1.84232
PA respects rising trendline.
RSI respects rising trendline.
Then:
Long trade – entry 8 pips recent high (and 9 pips above SR double touch 23 May and 24 May). I plan to make the trade real time, not with a stop since the market is closed and we all have gotten screwed by that before.
SL 4 pips below recent HH.
TP 3 pips below SR (LL w/ double touch 8 May and 9 May).
Note
Looks more like it formed a LH at 1.84232, the reversed to form a LL. Never met the assumptions. On to the next analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.