GBP/USD-01-March-21, a Double bottom ?
My Note for Monday me at 01-March-21
published for public view
Hi Welcome
1 hour timeframe trend now on downtrend but currently at Daily timeframe and the wick just touched 20 EMA and still on uptrend overall
This is just a maybe, maybe this formed double bottom was an entry for Daily time frame for another Bullish Impulse
Overall Status on Daily chart :
- on uptrend
- at strong trend (above 20 EMA)
- touched 20 EMA line (may indicate a Bullish)
- on Bullish impulse
I was hoping for a double bottom as a Bullish Reversal to retest previous high in 1st or 2nd week of March
Conditions for bullish are :
- two candle bar with red close and green open at previous recent low line (it's ok for wick crossed the line) which drawn on picture
- overbought RSI or below 30
Invalidate condition for bullish at Monday :
- a candle stick bar body crossed the last recent low line which not forming a double bottom
Note after entry :
- Close early if at Tokyo or Sidney Session forming a flag pattern
- Continue if a few candle body above 20 EMA line & breakout of red box at the chart
I was wondering is this a good idea or I am just imagination for getting a lot of pips at trading?
Maybe tell me what do You think about this by leaving comment below.
Hoping that I may know what I lack of in this analysis.
Lastly Thank you so much for Your time reading & coming here.
Warning :
- Any trade made by trader goes by this idea are not responsible of the author
- This is just made for educational content
- This is just one of author personal note that are publish to public
-> "Trade Ur Own Risk" <-
published for public view
Hi Welcome
1 hour timeframe trend now on downtrend but currently at Daily timeframe and the wick just touched 20 EMA and still on uptrend overall
This is just a maybe, maybe this formed double bottom was an entry for Daily time frame for another Bullish Impulse
Overall Status on Daily chart :
- on uptrend
- at strong trend (above 20 EMA)
- touched 20 EMA line (may indicate a Bullish)
- on Bullish impulse
I was hoping for a double bottom as a Bullish Reversal to retest previous high in 1st or 2nd week of March
Conditions for bullish are :
- two candle bar with red close and green open at previous recent low line (it's ok for wick crossed the line) which drawn on picture
- overbought RSI or below 30
Invalidate condition for bullish at Monday :
- a candle stick bar body crossed the last recent low line which not forming a double bottom
Note after entry :
- Close early if at Tokyo or Sidney Session forming a flag pattern
- Continue if a few candle body above 20 EMA line & breakout of red box at the chart
I was wondering is this a good idea or I am just imagination for getting a lot of pips at trading?
Maybe tell me what do You think about this by leaving comment below.
Hoping that I may know what I lack of in this analysis.
Lastly Thank you so much for Your time reading & coming here.
Warning :
- Any trade made by trader goes by this idea are not responsible of the author
- This is just made for educational content
- This is just one of author personal note that are publish to public
-> "Trade Ur Own Risk" <-
Ordem cancelada:
Invalid of Double Bottom