Hargopian rule in action

3 thg 3, 2020

Multiple timeframe analysis using Ichimoku indicates that the price is entering a long trade.
Placed my order too quick instead of waiting for the candle to close for a clear picture.

Risk/reward is 2:1, not the best but looking to extend it if Ichimoku agrees.

3 thg 3, 2020

Ghi chú

To further iterate on my analysis, the long wick that poked the lowest suggests that seller tried to keep the momentum going but failed. looking back 20 candles, this was the longest and assumed to be the most contested bar. Therefore, with the next candle closing with a thick candle, my understanding shows that the buyer is shifting the trend.