We saw bullish candle was rejected on the neckline of H&S, it's time to retrace now.
Wait and see how last candle closes. If it forms nice engulfing candle, you could enter short position with TP on 40pips (2:1 risk reward ratio) to the support zone which is clearly visible on H1. If that support zone breaks we could see further downtrend.
Wait and see how last candle closes. If it forms nice engulfing candle, you could enter short position with TP on 40pips (2:1 risk reward ratio) to the support zone which is clearly visible on H1. If that support zone breaks we could see further downtrend.
Order cancelled
Engulfing candle not formed when closing on H1 (matter of few points) :( You could enter more risky trade as well now or seek for opportunity on next candle closing.Note
We saw one candle down from the one that was supposed to trigger the trade and now one up, follow it for next 30 minutes and see the next one. Maybe it pulls back again to the neckline and then you could search again the same setup as the original one in this idea.Note
We got another engulfing candle, this would signal to start shorting for 2:1
Note
NFP Spike did stop us, but gave us another opportunity to enter. Also we had new engulfing bearish candle (few candles before the spike) that is already making some pips. SL on that trade was a little bit above the pin of previous bullish and spike didn't stop us there.
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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.