When i was starting my analysis i was looking for a swing setup but ended up getting a day trade , as price action on the higher timeframes is still puzzling and i could not get a bias but as i got to the lower charts things got more clearer.
Price on the 1hr is trading in a parallel descending channel with the lower trendline of the channel being violated multiple times acting as both short-term support and resistance , the top trendline held firm with price not being able to close above it , acting as dynamic resistance.
Currently 4hr demand zone is in control which is nested inside a daily demand with proximal price of @ 129.076 and also reacting to a 1hr CP demand level @ 129.229where i have my long positions with stops a few pips into the the 4hr demand zone @ 128.802 and targets at daily imbalance level @ 130.529 giving a risk, reward of 1:3.
Believe in yourself, take on your challenges, dig deep within yourself to conquer fears. Never let anyone bring you down. You got to keep going.
— Chantal Sutherland
Price on the 1hr is trading in a parallel descending channel with the lower trendline of the channel being violated multiple times acting as both short-term support and resistance , the top trendline held firm with price not being able to close above it , acting as dynamic resistance.
Currently 4hr demand zone is in control which is nested inside a daily demand with proximal price of @ 129.076 and also reacting to a 1hr CP demand level @ 129.229where i have my long positions with stops a few pips into the the 4hr demand zone @ 128.802 and targets at daily imbalance level @ 130.529 giving a risk, reward of 1:3.
Believe in yourself, take on your challenges, dig deep within yourself to conquer fears. Never let anyone bring you down. You got to keep going.
— Chantal Sutherland