We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe you can see that price rejected the 1.33000 level last week and closed extremely bullish breaking lower timeframe structure. I have identified the next key level as being at 1.3700 so I will wait until we reach that area. Before looking for rejection.
On the H4 timeframe the trend has broken into a bullish trend. We have a great 4:1 RR trade potentially at the 1.33500 level. Once price retests this zone we will look for buy opportunities.
On the weekly timeframe you can see that price rejected the 1.33000 level last week and closed extremely bullish breaking lower timeframe structure. I have identified the next key level as being at 1.3700 so I will wait until we reach that area. Before looking for rejection.
On the H4 timeframe the trend has broken into a bullish trend. We have a great 4:1 RR trade potentially at the 1.33500 level. Once price retests this zone we will look for buy opportunities.