Use this as a guide to develop your setup.
Main items we can see on the 4hs chart:
a)The price is on the edge of a major support resistance zone and a broken channel
b)There we can see a Wedge Patter that has already been broken
c)Currently, we can see a secondary correction (purple lines) on the edge of the Wedge Pattern
d)We think that if the price breaks the secondary correction, we will see a bearish movement towards the next Support zone (trendline)
e)The Risk-Reward ratio of this trade is 2.2
DAILY CHART:
Main items we can see on the 4hs chart:
a)The price is on the edge of a major support resistance zone and a broken channel
b)There we can see a Wedge Patter that has already been broken
c)Currently, we can see a secondary correction (purple lines) on the edge of the Wedge Pattern
d)We think that if the price breaks the secondary correction, we will see a bearish movement towards the next Support zone (trendline)
e)The Risk-Reward ratio of this trade is 2.2
DAILY CHART:
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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.