CONFLUENCE COUNT
1. THREE WEEKLY CANDLE REJECTION AT PREVIOUS MONTHLY SUPPORT @1686
2. MARCH 15 WEEKLY CANDLE CLOSE ABOVE PREVIOUS MONTHLY RES @1733
3. MARCH 22 WEEKLY CANDLE FINDS NEW SUPPORT AT PREVIOUS MONTHLY RES OF @1733 NOW TURNED SUPPORT.
4. MARCH 29 CANDLE RETEST PREVIOUS MONTHLY SUPPORT OF @1686 (MAJOR REJECTION)
5. APRIL 5 CANDLE OPENS BULLISH LOOKING FOR CONTINUATION AND FURTHER BREAKING PREVIOUS RES OF @1733
ALSO BULLISH PENANT FORMATION ON 1H TIMEFRAME
6. POTENTIAL RETEST OF MONTHLY RES @1777 WHICH IS ALSO A 50% FIB RETRACE ON OUR MONTHLY TIMEFRAME
7. BUY ENTRY POSITION @1733.
TAKEPROFIT @1777
8. STOP LOSS SET @1725 DEPENDING ON RISK MANAGEMENT.
1. THREE WEEKLY CANDLE REJECTION AT PREVIOUS MONTHLY SUPPORT @1686
2. MARCH 15 WEEKLY CANDLE CLOSE ABOVE PREVIOUS MONTHLY RES @1733
3. MARCH 22 WEEKLY CANDLE FINDS NEW SUPPORT AT PREVIOUS MONTHLY RES OF @1733 NOW TURNED SUPPORT.
4. MARCH 29 CANDLE RETEST PREVIOUS MONTHLY SUPPORT OF @1686 (MAJOR REJECTION)
5. APRIL 5 CANDLE OPENS BULLISH LOOKING FOR CONTINUATION AND FURTHER BREAKING PREVIOUS RES OF @1733
ALSO BULLISH PENANT FORMATION ON 1H TIMEFRAME
6. POTENTIAL RETEST OF MONTHLY RES @1777 WHICH IS ALSO A 50% FIB RETRACE ON OUR MONTHLY TIMEFRAME
7. BUY ENTRY POSITION @1733.
TAKEPROFIT @1777
8. STOP LOSS SET @1725 DEPENDING ON RISK MANAGEMENT.