Friday, June 5, 2020

05 June 2020


10:48 AM: Triple Taps, with 3rd tap going just a little below 2nd tap.
10:52 AM: Higher High made inside the channel, price didn't have enough strength now to touch the lower end of the channel. Good signal to go long (countertrend-trade light). Tgt should be previous Swing high.
11:16 AM: Tgt Achieved (Not shown in chart).


10:59 AM: 5 waves done and a 3 wave retracement also done with a big red candle finishing wave c of the same. Red candle becomes the orderblock, go long on retest (11:09 AM), Tgt1: 1.27 and tgt2: 1.618 MMO, both achieved. 1.618 is a more probable Tgt as it is near the channel high.


11:39 AM: notice the way the inner TL has been drawn, it is taking 2nd touch on the real Support