This morning I found very interesting this pair.
Let's start from a weekly chart, where I found a triple max ( >> where the arrows are), and a triple refuse from prices to break that level up.
So, today I'd like to look for a short entry, maybe up to the weekly Kijun (>> which could be our very first obstacle on this timeframe).
Let's go on with the .
This timeframe is very interesting, even without .
1 >> We can see the higher resistance, which was broken on the , so that could have created expectations, but then prices start to come down. This is due to the fact that the resistance was given from a weekly chart, so that level couldn't be considered as broken since the weekly chart didn't decide so.
2 >> Now prices stopped on a support created from price action ( >> See arrows), resistance before, now support.
On this timeframe we are on an uptrend (>> still), while the phase is ( >> You can see it by all those red candles).
Can you see it?
This is the trend.
This is the phase.
We can understand it's not a phase anymore, when it goes to break the previous lows.
Now let's use .
Cool, it confirms what I was saying, and it proves it by the Kijun Breakout ( >> Which means prices are loosing their power, and maybe they can start a ).
Let's see a H4 chart.
Here we can see ore details about the move.
1 >> Higher highs, with the last correction ( >> Outside return) which doesn't mind and breaks everything out.
2 >> is broken out by prices.
3 >> Prices calm down, and slow on the support given by the Daily price action,
and we have a reminder about is, given by the SSB .
Let's look for an entry on the 15 min chart.
Here we can see how prices have slowed down, not having a real trend in this moment. also says the same, with flat Kumos.
What I want now it a breakout of this flat movement, with a retest - if possibile - of this one, so I might say we have to wait a bit :-)
>> Leave a Like if you agree.
>> Tell me what you thing in the comment below.
The stop is tiny, and the target enormous ( >> Weekly Kijun). Of course I know it's far far away, so basically the trade is the same as my usual ones >> I go on until the 15 min chart shows me an inversion, or gives me any signals which are not good for the short to go on.
That was a very aggressive entry, but it's my way of training ( >> also I know how to tread my money management).
Let me know what you think about it :-)
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