It looks like a prebreakout squezze on 4h and H&S type PA. Also a nice double top on daily. I may be a bit late but if I get triggered in - I play to daily 50EMA.
Trade active:
I am triggered in @116.800
Comment:
looks like price is bouncing between 116.800 and 116.400. I don't like how exact rejections are on 116.400 but it still looks 20 ad 50 are squezzing the price.. I dont like last two candles but that could also indicate a shakeout before breakout. I dont see huge red flags to close the trade but everyday our target gets smaller which reduces my initial RR target.. My plan is to hold this for 2 more days then close it before cristmas if we don't hit tp or sl before that.
Comment:
we have a break of the key lvl 116.400 .. I was hoping for more momentum but we will se what ny session brings. I moved stop to BE. because trading so much above lvl would make a trade invalid..
Comment:
The price rejected 116.200 with impulse which doesnt give me much confidence to hit TP. Tbh after I didnt see momentum which I was anticipating durig the break I was thinking it will be a retest of 116.400 but now it just looks like a failed breakout. I will close this trade during the day. Happy hollidays!!