TOP DOWN ANALYSIS
WEEKLY TIMEFRAME
1. EMA pointing upward and below price action indicating uptrend
2. Break of previous high and retest support
3 . Doji candle respect the 8 EMA as dynamic support and resistance
DAILY TIMEFRAME
1.broke the previous high and we saw last week a complete retracement to the. previous daily structure low
2. EMA point upward indicating still upward trend
H4 TIMEFRAME
1.we saw break of structure and price continuing to upside
2. EMA crossover to upside
3. invested head and shoulder pattern
4 price as to break the 1742 area to align structure with the daily and weekly
H1 TIMEFRAME
1. EMA crossover to upside
2. price retraced 50% fib level which is a liquid zone
3 Entry at 50% fib level , nice rejection and EMA crossover
my target is around 1765 and stop loss 1720
WEEKLY TIMEFRAME
1. EMA pointing upward and below price action indicating uptrend
2. Break of previous high and retest support
3 . Doji candle respect the 8 EMA as dynamic support and resistance
DAILY TIMEFRAME
1.broke the previous high and we saw last week a complete retracement to the. previous daily structure low
2. EMA point upward indicating still upward trend
H4 TIMEFRAME
1.we saw break of structure and price continuing to upside
2. EMA crossover to upside
3. invested head and shoulder pattern
4 price as to break the 1742 area to align structure with the daily and weekly
H1 TIMEFRAME
1. EMA crossover to upside
2. price retraced 50% fib level which is a liquid zone
3 Entry at 50% fib level , nice rejection and EMA crossover
my target is around 1765 and stop loss 1720
Trade active:
nice retest of structure. ema crossover. rejection
Comment:
price has reached our support level to accumulate liquidity
