Clear rejection off trendline, looking for a good entry.
Setup:
We can see that the RSI has formed a horizontal support level, even though price had been going down, indecating more streagth than weakness.
This clear agressive rejection indecates price has now changed bias to the up side.
Entry:
Placing a limit order and waiting for a retest of last consolidation level in convergence with the short term trendline (dotted in blue).
Placing my stop loss just at the bottom of the last consolidation, as this would invalidate the trade intirely.
Placing my Take profit just below the last major resistance level.
With this entry, I am giving myself a 3.7RR
We can see that the RSI has formed a horizontal support level, even though price had been going down, indecating more streagth than weakness.
This clear agressive rejection indecates price has now changed bias to the up side.
Entry:
Placing a limit order and waiting for a retest of last consolidation level in convergence with the short term trendline (dotted in blue).
Placing my stop loss just at the bottom of the last consolidation, as this would invalidate the trade intirely.
Placing my Take profit just below the last major resistance level.
With this entry, I am giving myself a 3.7RR
Trade chiuso: stop raggiunto
The bounce didn't work
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.