- We had weak momentum to the downside creating descending channels breaking the lows and retracing showing price does not want to continue to the downside
- At the bottom we got another channel with a smaller descending channel showing more weakness
- we get a strong push that breaks through the channel with little to no wicks
Entry: 1.38240
Stop: 1.37990
25 pips
- At the bottom we got another channel with a smaller descending channel showing more weakness
- we get a strong push that breaks through the channel with little to no wicks
Entry: 1.38240
Stop: 1.37990
25 pips
Note
I don't have an overall TP i will just manage my trade and move my stop loss in profit if price continues to trend and break the highsTrade closed: stop reached
i was stopped out in profit for +1.54% or 38 pips
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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.