GE is in a Downtrend; Looking at Levels and Waiting for An EntryGE is an a clear downtrend. We closed a successful short but are currently neutral.
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STRATEGY USED:
Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping
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DESCRIPTION:
1. Fractal Trend is showing a downtrend (background color Maroon).
2. We previously had a successful short signal with Breakaway Scalper signaling short (Red bar color) while Fractal Trend also signaled a downtrend (we only take trades with this strategy when Fractal Trend AND Breakaway Scalper agree on the trend).
3. Currently Breakaway scalper is neutral (Grey bar color).
4. We are looking for potential reactions off of the bullish order block at S1 or the range at R1. Meanwhile, we will be looking at R2 and R3 if R1 does not act as resistance.
5. The only actionable play as long as Fractal Trend is Red is a short signal from breakaway Breakaway Scalper, thus we will be watching the noted levels as possible spots for Breakaway scalper to signal a continuation of the downtrend.
