- October 26, 2020
- Posted by: virtualxstore
- Category: trading
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Entry on H1 timeframe as there was apoint of confluence.
1) Retest of broken trendline
2) Retest on the 50% fib level
3) Retest on 21 SMA at the same level
4) Resistance level turned support
Analysis on 4H timeframe
1) Pair appears to be in a range and is contained within the Bollinger bands and trendlines
2) Entry was after two touches on the lower trendline/ support line as confirmation, thus we buy on the third touch and sell after it touches the above trendline/ resistance line
1) Retest of broken trendline
2) Retest on the 50% fib level
3) Retest on 21 SMA at the same level
4) Resistance level turned support
Analysis on 4H timeframe
1) Pair appears to be in a range and is contained within the Bollinger bands and trendlines
2) Entry was after two touches on the lower trendline/ support line as confirmation, thus we buy on the third touch and sell after it touches the above trendline/ resistance line
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