Top down analysis:
D1:
Lower low - lower high on D1 (downtrend)
Resistance level på D1 has been rejected 3 times
H4:
Nice pull back on H4 - trendline has now been broken and H1 candle closed past last trendline touch
Pull back to H4 trendline - rejektion of the trendline
price not going all the way back to D1 resistance before we get selling pressure coming in (Bearish Engulfing candle)
H1:
Bearish Engulfing candle
Aggressiv SL (last fractal top) for better risk to reward.
Target: 1,618 Fibonacci level
D1:
Lower low - lower high on D1 (downtrend)
Resistance level på D1 has been rejected 3 times
H4:
Nice pull back on H4 - trendline has now been broken and H1 candle closed past last trendline touch
Pull back to H4 trendline - rejektion of the trendline
price not going all the way back to D1 resistance before we get selling pressure coming in (Bearish Engulfing candle)
H1:
Bearish Engulfing candle
Aggressiv SL (last fractal top) for better risk to reward.
Target: 1,618 Fibonacci level
Trade active:
A very close call to the SL.
The big players know they can get liquidity around that area (some call it stop loss hunting)
For the same reason I always put an ekstra H1 ATR x 10000 (in this case 6.2 pips) to my SL.
When I get a H1 candle close past the 1.8362 level I move my SL til break even
The big players know they can get liquidity around that area (some call it stop loss hunting)
For the same reason I always put an ekstra H1 ATR x 10000 (in this case 6.2 pips) to my SL.
When I get a H1 candle close past the 1.8362 level I move my SL til break even
Trade closed: target reached