SETUP: Major Resistance and Trendline.
Entry: Bear Confirmation candle.
SL: 1.312(or the highest high price point before moving down)
TP: 1.303
Despite the big move up today, if price slows down tomorrow, price needs a bit of consolidation or a small retest to the major resistance before moving back down. No major news tomorrow so resistance should hold price.
Although we have quite a few biases for price to break downward, price can just as easily move up due to all the volume from today - if that is the case, the trade is simply invalid and more opportunities will be seeked out for next week.
Entry: Bear Confirmation candle.
SL: 1.312(or the highest high price point before moving down)
TP: 1.303
Despite the big move up today, if price slows down tomorrow, price needs a bit of consolidation or a small retest to the major resistance before moving back down. No major news tomorrow so resistance should hold price.
Although we have quite a few biases for price to break downward, price can just as easily move up due to all the volume from today - if that is the case, the trade is simply invalid and more opportunities will be seeked out for next week.
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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.