[quote=BubaYaga;8865611]Alright, I think this chart may be ok. USDCHF On the weekly, we're currently in a preferred buy zone established by a BuLBC back in October. {image} The daily has an BeLBC back on the 10th of March - giving potential target area.. (if sl is put at 0.9465 the R:R is not bad) Now at first sight it might seem there isn't a potential reversal candlestick (& of course, today's is far from completion*). But if we combine the Sunday Candle with Monday Candle* I think potential Bullish Engulfer may be forming. - I think combining Sunday candle with Monday may be acceptable as it's just Early Asian Monday session anyway. {image}[/quote
I agree with current price being in a pretty good supply zone. Am wondering though about the target though - not to dispute your opinion, but to ask if the BeLBC from a few weeks ago (week starting Mar. 27th) might be a nearer resistance zone? If so, this would affect the R:R. Appreciate your thoughts on this.
I agree with current price being in a pretty good supply zone. Am wondering though about the target though - not to dispute your opinion, but to ask if the BeLBC from a few weeks ago (week starting Mar. 27th) might be a nearer resistance zone? If so, this would affect the R:R. Appreciate your thoughts on this.