SMALLER CORRECTION AHEAD OF BULL LONGER TERM RIDE

Feb 21, 2016

This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements

Daily

• Pivot points: Price rejected WS2 and closed above MPP
  Support/Resistance: Price at the resistance
  EMA: Price approaching 21 after 55 was respected previously
  Trend: Consolidation after down trend
  Structure: LL,LH,HL, waiting for HH to be next
  Bias: Bullish
  Psychological levels: Ultimate level 0f 1.45 is ahead at resistance
  Stochastic: Downtrend approaching 20 oversold levels
  Fib: Price above 618 retracement
  

4H Chart

• Daily Pivot: Price finished above DPP and at DR1
  Support/Resistance: Broken through closest resistance
  EMA: Price went through 21 and 55 and closed above 55
  Trend: Consolidation
  Structure: LL,LH, Double bottom,HH
  Stoch: Rising not overbought, at 50
  

1H Chart:

• Suport/Resistance: At resistance
  Stoch: Overbought,seems to be ready for correction