This is a high-risk setup, proceed with caution.
A conservative trader would wait for a retest before placing a buy order but in order to buy we wait for a dip - that is what we are doing, travelling the dip.
It may dip or continue up without a dip, but it's a good chance it will.
The price is respecting the supply line multiple times earlier, not much juice left but still a good sell for high risk setup.
Only 0.5% risk per trade, minimize risk by putting stop loss to entry at 1.5 RR.
A conservative trader would wait for a retest before placing a buy order but in order to buy we wait for a dip - that is what we are doing, travelling the dip.
It may dip or continue up without a dip, but it's a good chance it will.
The price is respecting the supply line multiple times earlier, not much juice left but still a good sell for high risk setup.
Only 0.5% risk per trade, minimize risk by putting stop loss to entry at 1.5 RR.