Still holding a bad trade from yesterday, entered too early.
DAILY
We had a close with a reversal stop candle which was showing us downwards demand, now we we are forming a bullish reversal candle. So we know that the candlestick use is wrong, as we should use patterns to give us more guidance. Retesting 192.00, which we have established as our resistance and price of reversal.
4H
192.50 was the turning point and we are still moving to down side, so we will wait and hold.
Having a trend within a trend, we have a bullish reversal channel forming in the larger bull structure, therefore we need a break and retest in order to fully execute this trade idea.
1H
The close of the candlestick will give us the confirmation we need to start thinking of placing our sells. 191.60 is where we need to break and reject before we fully execute.
15Min
First let price reach 191.80 and break through here first.
DAILY
We had a close with a reversal stop candle which was showing us downwards demand, now we we are forming a bullish reversal candle. So we know that the candlestick use is wrong, as we should use patterns to give us more guidance. Retesting 192.00, which we have established as our resistance and price of reversal.
4H
192.50 was the turning point and we are still moving to down side, so we will wait and hold.
Having a trend within a trend, we have a bullish reversal channel forming in the larger bull structure, therefore we need a break and retest in order to fully execute this trade idea.
1H
The close of the candlestick will give us the confirmation we need to start thinking of placing our sells. 191.60 is where we need to break and reject before we fully execute.
15Min
First let price reach 191.80 and break through here first.