DislikedOn 1H TF we got a bullish Choch which gave us a swing low Im going to buy dips as long as we stay above the swing low - We can also see bullish momentum like we saw on 13 april - 0.5 fib level is the key area i will watch if it breaks then we can surely fill the imbalance on 1H TF which is around and below 1.182 level if not then we can go low and the reason why im saying we can go low from here because on 1D TF we have the bearish choch which shows the long term plan (bearish) Please correct me if im wrong somewhere thank you Happy Weekend {image}...Ignored
I googled it after I saw your reply to me and watched the first video which came up which was a short video from a guy who had 40k subscribers on youtube who at one point incorrectly labelled swing just to fit his coach narrative.
Where you are wanting to enter, right now personally I would not enter there based on your technical analysis.
Choch seems to be another name for a pattern I already know, the person who taught it called it last swing broke...,
Under mainstream technical analysis You need a price to clearly close above the WICK of the candle im pointing to, if price cant close above wicks it means the bulls were not or have not yet proven themselves strong enough. Also when you look left to that swing you have labeled "BOS" that could very easily turn into resistance and reject price. In fact it is the likely reason EURUSD has been struggling there for several hours unable to get through. Buying here is like buying into a brick wall, very dangerous.
You want at least the MINIMUM price able to close past the wicks on that bos swing and into the body of the candels. tbh IF i was looking to get in there i would wait until a bullish candels body closed at at least 1.17300.
The daily trend is with you right now for bulls, but the h4 is still technically in a downtrend. the h1 is in an uptrend. where you are buying as well, look on the h4 charts. you are buying into a H4 wall as well, its a massive doji wick.
I know I am long, but I got long much lower down and have space to break even if price gets rejected where it is. I'm also using multi timeframe analysis (with the TDI indicator in the image I posted a few days ago) which shows sentiment on the H4 beginning to shift even though price is trending down on h4. You have no indicators to see this with.
Im also using unconventional analysis, which is why i think 1.16691 is the bottom.., but lets say i was not doing that and just using normal technical analysis. then the place i took the long at where i posted my chart is the best place to buy. the area you are looking to buy at is awful in my opinion. and tbh i would not even go long at 1.17300 because if you get an hourly close there like i said, looking at the h4 charts you are still at a possible wall.
My opinion is that if you got long where you want to get long, there is a reasonable chance of the trading working out, but ONLY because due to my own analysis i think eurusd is headed up and your long happens to be the same direction as my trade. but imagine im not here for a second. on its own merrits, where you've picked.. is a not a good place to get in.
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️ with a sip from my coffee, lol
