From the chart on the weekly time frame you see price entering a resistance/supply zone in which price from the past has dramatically rejected (Black lines) Dropping to the Daily time frame the area within the Lime Green lines is the daily supply zone which has not be retested from before the previous rejection, this therefore is an entry to look into for an entry position. I scrolled down to the 4HR chart to look within the daily zone and managed to mark the area in dark blue lines which within the daily and weekly zone has not been retested. We will enter at this point. Price generally to this point has been in a downward trend and with history of rejection in this zone builds a bias to support the potential trade above.
Lets start 2021 off with a mega move!! please do trade at your own discretion
OP: 1.23471
SL: 1.24309 (83.8 Pips) This SL accommodates not only 4HR but Daily zone +10 pips also.
TP: 1.08978 (1449.3 Pips!!)
R:R:R - 17.29:1
Lets start 2021 off with a mega move!! please do trade at your own discretion
OP: 1.23471
SL: 1.24309 (83.8 Pips) This SL accommodates not only 4HR but Daily zone +10 pips also.
TP: 1.08978 (1449.3 Pips!!)
R:R:R - 17.29:1