Big Picture View:
1M
Pinbar formed strong resistance. Expect retracement to retest broken channel TL.
1W
~ 0.812 is area is major support area to watch over next several weeks.
I'm looking for EG to retest recently broken support levels.
Trade Set Up:
This is a higher risk trade and I expect higher vol. Because of that, I'm scaling into position. That gives me the opportunity to take advantages of pullbacks. I'm using lower time frame to pick entry points. Watch price action around .825 - .8248 support.
Entry based on 4H chart
1M
Pinbar formed strong resistance. Expect retracement to retest broken channel TL.
1W
~ 0.812 is area is major support area to watch over next several weeks.
I'm looking for EG to retest recently broken support levels.
Trade Set Up:
This is a higher risk trade and I expect higher vol. Because of that, I'm scaling into position. That gives me the opportunity to take advantages of pullbacks. I'm using lower time frame to pick entry points. Watch price action around .825 - .8248 support.
Entry based on 4H chart
Trade active
Fortunately, price action turned before I got into the trade. I'm in now 1st short position entered at .84562. I've added to position two additional times. Average short price is .8475. I'm close to my SL, so hopefully price turns before I get stopped out.
Trade closed: stop reached
Stopped reached. KEEPING SCORE: Loss
Watching upcoming resistance area.
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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.
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.