Double pin bar continuation on multiple levels
Trend: down since end of June on the daily charts
Levels: horizontal resistance and dynamic resistance of the 21 and 50 EMA
Signal: double bearish pin bars
I will try to enter at the 50% retracement of the pin bars. I will place a wide stop above the wicks of these pin bars.
First support comes at 1R. I will monitor PA closely at that level. If it breaks then second support and target comes at 2.5 R
Levels: horizontal resistance and dynamic resistance of the 21 and 50 EMA
Signal: double bearish pin bars
I will try to enter at the 50% retracement of the pin bars. I will place a wide stop above the wicks of these pin bars.
First support comes at 1R. I will monitor PA closely at that level. If it breaks then second support and target comes at 2.5 R
Trade closed: stop 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.