My Note for Monday me at 01-March-21 published for public view
Hi Welcome
1 hour timeframe trend now on downtrend but currently at Daily timeframe and the wick just touched 20 EMA and still on uptrend overall
This is just a maybe, maybe this formed double bottom was an entry for Daily time frame for another Bullish Impulse
Overall Status on Daily chart : - on uptrend - at strong trend (above 20 EMA) - touched 20 EMA line (may indicate a Bullish) - on Bullish impulse
I was hoping for a double bottom as a Bullish Reversal to retest previous high in 1st or 2nd week of March
Conditions for bullish are : - two candle bar with red close and green open at previous recent low line (it's ok for wick crossed the line) which drawn on picture - overbought RSI or below 30
Invalidate condition for bullish at Monday : - a candle stick bar body crossed the last recent low line which not forming a double bottom
Note after entry : - Close early if at Tokyo or Sidney Session forming a flag pattern - Continue if a few candle body above 20 EMA line & breakout of red box at the chart
I was wondering is this a good idea or I am just imagination for getting a lot of pips at trading? Maybe tell me what do You think about this by leaving comment below. Hoping that I may know what I lack of in this analysis. Lastly Thank you so much for Your time reading & coming here.
Warning : - Any trade made by trader goes by this idea are not responsible of the author - This is just made for educational content - This is just one of author personal note that are publish to public