Price has closed above 38,500 level which is massive zone of liquidity
Price has formed a head and shoulder.
This indicates that price is headed upwards to 39,100 which is the next daily level
Daily;
Price has closed above 38,500 or 38,550 which is a massive buy area.
It has retested that same zone twice with two candlesticks. If you zoom in on the wicks you can see that yesterday's candlestick formed a higher high in comparison to Monday's candlestick. This indicates that price is going higher.
4 hour;
Today price has continued its upward momentum, however, price is slowing down. Moreover, if I intuitively think about it, price is trying to go higher since there would be no reason for today's momentum to continue going higher, if there are no orders or momentum.
The slowing momentum tells me that price does not have enough orders to go to 39,100.
So if we zoom in and look for areas of possible entries, there are some.
First of all the daily body closure at 38,550 is a massive area of buying liquidity. It is also in sync with yesterday's 4 hour region that retraced to go and collect orders at 38,450. The highest probability entry would be if price tested 38,550 and formed a buy formation 38,625.
Another possible scenario is if price manages to close above 38,815 and retests it to confirm my bias, which will see me buy to 39,050.
การซื้อขายยังคงดำเนินอยู่
Entered a long position as stated earlier
การซื้อขายยังคงดำเนินอยู่
Trade is in profit. Looking to move SL to break even