Overall trend is bullish as above 200MA
False break Setup: Candle movement towards support looks clean, will go long if the market takes out previous structure low and there is price rejection towards the long side.
Entry: enter after price rejection on candle open
SL: 1ATR below support
TP: trail on previous day candle high
False break Setup: Candle movement towards support looks clean, will go long if the market takes out previous structure low and there is price rejection towards the long side.
Entry: enter after price rejection on candle open
SL: 1ATR below support
TP: trail on previous day candle high
Order cancelled
Price took out previous structure low and rallied lower without price rejection to the long side. False break setup is invalidated.
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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.