1. Old daily timeframe downtrend line touched 3rd time. 2. 4 hours timeframe channel support line touched 3rd time. 3. Strong resistance area. 4. 4h red candle closed with full body. Good indicator for short.
Potential risk/reward ratio is 2.5.
Most important rules in trading: 1. Do not risk more than 1% per trade. 2. Take high probability trades with minimum 3 confirmations. (Less trades, more profits) 3. Be patient, disciplined and consistent. 4. Do not chase money.
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