Use this as an idea to develop your own setup
Main Items we see on the 4hs Chart:
a)Price is testing the lower trendline of the Daily Descending Channel.
b)On MACD we can see a huge Bullish Divergence, showing Weakness of the current trend.
c) Observe how the Price tested the Trendline, first with a big bearish candlestick, and then the price made new lows on a really calm way, showing low interest in the zone, we can read this as a possible Accumulation process going on.
d) We think will be 2 opportunities to open setups here, those are shown with red arrows on the chart.
e)Wait for consolidations on those areas to be formed, and trade above those structures, you will be able to set your stop loss on good places.
f)The Risk/Reward Ratio for both entries is good and you can have 2:1 or 1.5:1.
Multi Time frame Analysis
Weekly Chart:
Daily Chart:
Main Items we see on the 4hs Chart:
a)Price is testing the lower trendline of the Daily Descending Channel.
b)On MACD we can see a huge Bullish Divergence, showing Weakness of the current trend.
c) Observe how the Price tested the Trendline, first with a big bearish candlestick, and then the price made new lows on a really calm way, showing low interest in the zone, we can read this as a possible Accumulation process going on.
d) We think will be 2 opportunities to open setups here, those are shown with red arrows on the chart.
e)Wait for consolidations on those areas to be formed, and trade above those structures, you will be able to set your stop loss on good places.
f)The Risk/Reward Ratio for both entries is good and you can have 2:1 or 1.5:1.
Multi Time frame Analysis
Weekly Chart:
Daily Chart:
