Analysis:
I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse.
it has a little further to go hit the reversal zone indicated at the dashed orange lines.
Hypothesis:
I am looking for latent buy orders to kick in at the levels identified.
Price should trade up to resistance where I have indicated by the blue arrow
Risk Management:
Trade potential 4:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned going long against short term bearish momentum.. you can wait for a 1D bullish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse.
it has a little further to go hit the reversal zone indicated at the dashed orange lines.
Hypothesis:
I am looking for latent buy orders to kick in at the levels identified.
Price should trade up to resistance where I have indicated by the blue arrow
Risk Management:
Trade potential 4:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned going long against short term bearish momentum.. you can wait for a 1D bullish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.