We can see in the weekly timeframe, price wasn't able to break the resistance and rejected several times until last week still unable to break the resistance.
Weekly candle also forms pinbar. For entry with candle formation like this we can wait for the price to retrace up to 50 percent which is structure resistant on smaller timeframe.
prepare a sell entry when price come to that level with a stop loss above the previous high / weekly candle
Weekly candle also forms pinbar. For entry with candle formation like this we can wait for the price to retrace up to 50 percent which is structure resistant on smaller timeframe.
prepare a sell entry when price come to that level with a stop loss above the previous high / weekly candle
Trade active
Note
on the support.close half.
SL to BEP for the rest position
Happy Eid Mubarak
Trade closed: target reached
Patternception
channel : t.me/patternception
instagram : @patternception
channel : t.me/patternception
instagram : @patternception
Related publications
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.
Patternception
channel : t.me/patternception
instagram : @patternception
channel : t.me/patternception
instagram : @patternception
Related publications
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.