CADCHF has confirmed to be on a down trend on the 4h tf with the 2 sets of LH's and LL's.
Now we wait for confirmation for this closing hours of friday if the setup is still valid next week.
Confirmation consist of the last 4h candle of friday closing below the 2nd lower high and the first 4h candle of next week closing way below the lowest price of the previous 4h candle.
Then we put our entry on the opening of the next 4h candle with our SL 5 pips above the previous 4h candle's highest price.
Happy trading everyone!
TRADE AT YOUR OWN RISK!
Now we wait for confirmation for this closing hours of friday if the setup is still valid next week.
Confirmation consist of the last 4h candle of friday closing below the 2nd lower high and the first 4h candle of next week closing way below the lowest price of the previous 4h candle.
Then we put our entry on the opening of the next 4h candle with our SL 5 pips above the previous 4h candle's highest price.
Happy trading everyone!
TRADE AT YOUR OWN RISK!
Comment:
Still awaiting for the second confirmation. Shooting star for the last 4h candle just adds on the strength for a downtrend continuation
Comment:
INVALID. 2nd confirmation did not close well below the last candle of the previous week.
Wait for the next confirmation of the opening 4h candle closing way below the lowest price of the previous 4h candle.
Happy trading!