So on the daily chart you see that the price is close to a support zone (orange zone), where a lot of buyers are. This means that we can look for any opportunities on a smaller time frame.
On the 4 hour chart you can see that the double bottom is forming, so we can’t act on it yet. But what we can do is setting up a possible trading plan:
Long position (4-hour)
• Entry: A close above the white line
• Stop Loss: A close below the white line
• Target: See the purple lines
Of course the stop loss would not be optimal, if the prices is going up. I will keep the idea updated when I see an optimal stop loss
On the 4 hour chart you can see that the double bottom is forming, so we can’t act on it yet. But what we can do is setting up a possible trading plan:
Long position (4-hour)
• Entry: A close above the white line
• Stop Loss: A close below the white line
• Target: See the purple lines
Of course the stop loss would not be optimal, if the prices is going up. I will keep the idea updated when I see an optimal stop loss
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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.
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.