This trade was taken based off of S/R levels, candlestick formations, and divergence.
Yellow Line = Weekly Level Pink Line = Daily White Line = Monthly
The closures over the last 2 days created a tweezer top bouncing off of the Weekly resistance level.
This bounce also resembles the beginning of a double-top chart pattern, and shows the strength of the Weekly resistance.
Finally, Tenkan-sen and Kijun-sen have a vast amount of distance between them. This is a sign of divergence, as well as the Williams %R scale.
I do also hold the belief this could be a setup for a longer-term buy. This is why I have my Fibs on. I'm also using them as TP markers. TP1: 38.2 TP2: 61.8 TP3: 100
*Side Note* My price entries, SLs, and TPs are all based on my broker.
Let see what happens!
거래청산: 타겟 닿음
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Fabulous trade! Not too much to say on this one. Followed the plan, worked my system and practiced my patience.