Hi guys,
this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition.
All those clues together make this trade a nobrainer.
If the current candle will reject again that level i think i'm going to buy.
Stops obviously below the pin, target1 and 2 with 382 and 618 retracement.
Always look left. Structure leave clues!
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition.
All those clues together make this trade a nobrainer.
If the current candle will reject again that level i think i'm going to buy.
Stops obviously below the pin, target1 and 2 with 382 and 618 retracement.
Always look left. Structure leave clues!
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active:
Trade closed: stop reached