Waves restricted in a parallel channel; numerous tests of both sup & res on 4H
Trade closed manually
CLOSED MANUALLY IN PROFIT 20 PIPS!Note
(For my journal) Price didn't go all the way. Should mark the previous high or low depending on the trend. There is a always a trend, even within a consolidation, just go to a lower timeframe, to find that 3 impulse, 3 retracement.If I had marked the previous high, I would've established a double top followed by a bearish harami pushing the market down and breaking trend support to continue bearish trend. If we look at previous price action, price breaks below 200 EMA for further confirmation.
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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.