Trade idea:
wait for market to break support,
wait on re-test
after wick rejection at zone of resistance enter bearish
SL above structure
TP 3x risk
else,
Wait for market to retract to resistance
after wick rejection wait for break of support level and on retest wait for wick rejection this will give enough confluence to enter short
SL above structure
TP 3x risk
when market touch support it gradually moves up to resistance
when touching resistance it gradually moves to support until structure no longer holds, and breaks through
market in an up channel
looking for selling opportunities
market was at low price rejecting bottom up trendline
best possible sell will be at channel resistance or break below support and wait on retest
about 400 pips away from daily fib target at current price
wait for market to break support,
wait on re-test
after wick rejection at zone of resistance enter bearish
SL above structure
TP 3x risk
else,
Wait for market to retract to resistance
after wick rejection wait for break of support level and on retest wait for wick rejection this will give enough confluence to enter short
SL above structure
TP 3x risk
when market touch support it gradually moves up to resistance
when touching resistance it gradually moves to support until structure no longer holds, and breaks through
market in an up channel
looking for selling opportunities
market was at low price rejecting bottom up trendline
best possible sell will be at channel resistance or break below support and wait on retest
about 400 pips away from daily fib target at current price
