Agression initiation down; reacting to major long term trendline
Multitimeframe Analysis!
Price is reacting positively (downwards) to a long term trendline from the WEEKLY + a horizontal level.
Entry: major GBP news release in 7 hours, hoping it triggers me in on a limit order from implied volatility (expecting a small spike rejection/retest-ish)
Exit: I don't know how far the will go, so I will be adjusting depending on what the price action does.
Long term trendline + horizontal level convergence from the weekly:
Daily:
On the 4h, the RSI is fading down, indicating weakness :
15 min :
^^this whole pattern I've seen it before with experience. It's pure price action and it's telling me that it will go down.
Price is reacting positively (downwards) to a long term trendline from the WEEKLY + a horizontal level.
Entry: major GBP news release in 7 hours, hoping it triggers me in on a limit order from implied volatility (expecting a small spike rejection/retest-ish)
Exit: I don't know how far the will go, so I will be adjusting depending on what the price action does.
Long term trendline + horizontal level convergence from the weekly:
Daily:
On the 4h, the RSI is fading down, indicating weakness :
15 min :
^^this whole pattern I've seen it before with experience. It's pure price action and it's telling me that it will go down.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.