This analysis is done on 4H time frame, as it can be seen that market is making series of HH and HL which is our Bullish Trend. however, market took a deep correction and broke the HL which seems trend reversal. Since there is no divergence before correction therefore it is more weighted toward continuation pattern. Having said that, Market took a deep correction till FIB level of 0.618 which forms a AB=CD Harmonic Pattern.
The point D is our Potential Reverse Zone, and it also coincides with the 4H good resistance level (Perfect confluence of PRZ). Therefore we can project our market to reach there.
Entry Points : IN our case we shall plan safe entry on Break-of-Neckline, however the neckline is already broken, therefore we can instant enter into the market OR wait to break again the Market with Good Bullish candle (with good momentum / body).
Our 1st TP will be with R:R of 1:1 and 2nd TP would be 1:2 R:R , As usual SL would be placed below HL as market in the chart.
Regards,
The point D is our Potential Reverse Zone, and it also coincides with the 4H good resistance level (Perfect confluence of PRZ). Therefore we can project our market to reach there.
Entry Points : IN our case we shall plan safe entry on Break-of-Neckline, however the neckline is already broken, therefore we can instant enter into the market OR wait to break again the Market with Good Bullish candle (with good momentum / body).
Our 1st TP will be with R:R of 1:1 and 2nd TP would be 1:2 R:R , As usual SL would be placed below HL as market in the chart.
Regards,
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.