Price has been ranging for a good time in the wide 4H time frame.
Price got rejected from the supply line.
There is a out of trend pattern waiting for a possible retesting (Red line).
There is a rising wedge in the 1 hour time frame with good rejections. (Blue line).
To top it all, a nice bearish engulfing candle coming from top.
Please proceed with proper risk, no more than 0.5% risk in the trade. It may do a short retest and be up back to your stop loss, careful there.
Price got rejected from the supply line.
There is a out of trend pattern waiting for a possible retesting (Red line).
There is a rising wedge in the 1 hour time frame with good rejections. (Blue line).
To top it all, a nice bearish engulfing candle coming from top.
Please proceed with proper risk, no more than 0.5% risk in the trade. It may do a short retest and be up back to your stop loss, careful there.
Note
Try to minimize risk by putting stop loss to entry after a 1.5 RR achieved.
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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.
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.