Very High Probability Trade because of 4-factor confluence:-
1. RSI Divergence on 1-hr Time Frame
2. Inverse Head and Shoulder on the 1-hr time frame
3. Price is near weekly support level
4. Weekly candles are being formed with long wicks, rejecting a level of 147 (Which is the stop-loss point)
When Trade will be confirmed?
1. Let it break the downtrend trendline
2. Let it close above 50 EMA on the daily frame
Target - 200
Stoploss - 145
Entry - Near 160
Risk Reward - 15:40 = 1:2.7
This is for education purposes only. Thanks
1. RSI Divergence on 1-hr Time Frame
2. Inverse Head and Shoulder on the 1-hr time frame
3. Price is near weekly support level
4. Weekly candles are being formed with long wicks, rejecting a level of 147 (Which is the stop-loss point)
When Trade will be confirmed?
1. Let it break the downtrend trendline
2. Let it close above 50 EMA on the daily frame
Target - 200
Stoploss - 145
Entry - Near 160
Risk Reward - 15:40 = 1:2.7
This is for education purposes only. Thanks