Price is now above the previous trend line on the 4h/1d chart and has retraced back to it.
It's a good opportunity to try to enter long for a mid-term long trade.
Note that the market is still bearish. I'll therefore try to move the stop to breakeven as soon a price reach 7250.
It's a good opportunity to try to enter long for a mid-term long trade.
Note that the market is still bearish. I'll therefore try to move the stop to breakeven as soon a price reach 7250.
Trade active
We just got an good impulse up. Given the strong bearish trend, I'm moving my stop right below the new bullish candle on the 30 min chart around 6650.Note
Let's be reasonable : a bear flag is clearly building. Which mean chances are that price should break down. But who knows?To minimize risk, I'll continuously move my stop a couple pips below the bottom trend line. And go short if price breaks down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.