DONATE & Share Post Your Content On Smart Money Management

Search This Blog

Sunday, October 17, 2021

XLMUSD Analysis Oct 17, 2021

XLMUSD Analysis Oct 17, 2021

We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.

On the daily timeframe we are rejecting a key level of resistance as we need to get above the 0. 40 level in order to head higher. Price is in an uptrend but I will wait for price to get above this area before taking longs. There are a lock of wicks happening as resistance to this area so if price does start to breakdown on the H1 timeframe then we will go short.

from TradingView Ideas
via gqrds

No comments: