Criteria for long position:
- new up trend on 4 hour time frame (successive HHs and HLs)
- low test bar
- 8 ema support
- horizontal support at ~0.7245
- 38.2% Fibonacci retracement
- Stochastic convergence
entry - above high of low test bar
stop loss s- below low of low test bar
target - 127.2% Fibonacci extension or higher
- new up trend on 4 hour time frame (successive HHs and HLs)
- low test bar
- 8 ema support
- horizontal support at ~0.7245
- 38.2% Fibonacci retracement
- Stochastic convergence
entry - above high of low test bar
stop loss s- below low of low test bar
target - 127.2% Fibonacci extension or higher