I'm in short, however, still waiting on several confirmations before I fully invest in this trade. This is a short-term trade that could develop into a long term trade. Much depends on the price action over the next couple of hours and current 4hr and Daily bar completions. Especially if current Daily bar ends up as a strong bearish (bull rejection), price could substantially drop. (See charts below)
The 1H pinbar formation was enough for me to at least enter the trade on a short-term basis & at this time, a small position.
My plan is to let price action determine how I will add to my position. The price action over the next couple of hours will determine the placement of my first TP. SL is set and fairly tight.
Short @ 1.3056; SL @ 1.3085
1M:
1W:
1D:
If current daily bar ends up strong bearish, price could substantially drop.
1H:
Nice pinbar formation
The 1H pinbar formation was enough for me to at least enter the trade on a short-term basis & at this time, a small position.
My plan is to let price action determine how I will add to my position. The price action over the next couple of hours will determine the placement of my first TP. SL is set and fairly tight.
Short @ 1.3056; SL @ 1.3085
1M:
1W:
1D:
If current daily bar ends up strong bearish, price could substantially drop.
1H:
Nice pinbar formation
Trade closed: stop reached
SL reached.
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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.