Running a Trade near to S/L at the moment
Gave the trade some more pips to the downside because i think its likely to retrace here
This is what i think will happen.
Retracement to the Resistance outlined
Either break back through to take out the Highs before eventually coming down as it is overly extended on the daily TF
If it breaks through it has just closed below the 200EMA on the 15M for the first time in a while. Could be looking at the start of the Daily retracement from Now so will keep my eyes on this chart.
ANY feed back or advice welcomed as i have only been Trading for a few weeks and am open to learning.
Peace.
Gave the trade some more pips to the downside because i think its likely to retrace here
This is what i think will happen.
Retracement to the Resistance outlined
Either break back through to take out the Highs before eventually coming down as it is overly extended on the daily TF
If it breaks through it has just closed below the 200EMA on the 15M for the first time in a while. Could be looking at the start of the Daily retracement from Now so will keep my eyes on this chart.
ANY feed back or advice welcomed as i have only been Trading for a few weeks and am open to learning.
Peace.