This is a drawback setup on the 4 hour chart that I've zoomed into the 1 hour chart to take a closer look at.
My overall lower target aligns with the kumo cloud low we had recently.
It's simple enough to see the bearish move we've started to get here and this setup is looking to capitalize on this move down.
If we fail to break the resistance I've drawn for entry, or our bearish confirmations change, this setup may become invalidated.
My overall lower target aligns with the kumo cloud low we had recently.
It's simple enough to see the bearish move we've started to get here and this setup is looking to capitalize on this move down.
If we fail to break the resistance I've drawn for entry, or our bearish confirmations change, this setup may become invalidated.
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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.