Taking another crack at this. This one with a slightly better R:R.
Market made another attempt to break lower and failed again. Looking to ride a break higher.
Market made another attempt to break lower and failed again. Looking to ride a break higher.
Comment:
Trade is hinged on a convincing breakout ablve 117.97 (which was approx. the previous high). If breakout bar closes below said level, it will not be good price action as it might be a bull trap. Will close manually if so and take a small loss or wait to hit BE.
Trade closed manually:
Bull trap! Trade was not set up as a proper range trade but a swing trade so exited early for a small loss.
Comment:
Should have said "possible bull trap". :) Was actually managing this using the 15 min chart and didn't like the price action after the break out.