Once price reaches the third red line down, it is likely to drop fast, as in a full momentum completion. This 4 hour setup will probably make a jump down before many have time to enter, so putting entry short lower on my projection to account for opening volatility if there is any. It`s possible to break this down further on the 1H and 15M chart, but that would be for more precision entries, watching price all day kind of thing, which is useful, but not necessarily needed. A lower time frame entry might decrease stop value but could also stop you out before the trade has time to work out.
Note
Price rotation might be happening in the circle now to get us into the B line trade short.
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.
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.