1. We started with a Daily Time Frame to check the trend ! Upside.
2. We switched to 4H time frame to find a channel pattern forming.
3. We switched down to 2H and 1H time frame to plot the support and resistance zones.
4. On hourly time frame we also got confirmation on RSI chart which shows an oversold zone.
5. We found that the current zone is the retest on channel resistance along with old resistance zone on Hourly chart. Also, we can see some long wicks forming on the lower side which means buyers are indeed active here & can be a good zone to buy for a good 5% move in a swing trade.
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Hi reader/trader ! The trade is posted here to make us all self-efficient and learn from our mistakes instead of learning from a trading paid course.No matter if we are in loss or profit, I promise to keep my loss short and trail the profits.
Thanks for going through the analysis! Don't forget to hit that like button.
2. We switched to 4H time frame to find a channel pattern forming.
3. We switched down to 2H and 1H time frame to plot the support and resistance zones.
4. On hourly time frame we also got confirmation on RSI chart which shows an oversold zone.
5. We found that the current zone is the retest on channel resistance along with old resistance zone on Hourly chart. Also, we can see some long wicks forming on the lower side which means buyers are indeed active here & can be a good zone to buy for a good 5% move in a swing trade.
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Hi reader/trader ! The trade is posted here to make us all self-efficient and learn from our mistakes instead of learning from a trading paid course.No matter if we are in loss or profit, I promise to keep my loss short and trail the profits.
Thanks for going through the analysis! Don't forget to hit that like button.