We have drawn two possibilities on this trade.
If the chart follows the trend of the BLUE line, therefore, it breaks the support and retraces, retouching the support, we will enter SHORT on the point highlighted by the yellow circle. The trade will thus start with a RISK/RETURN set at 1:4.
If the chart follows the trend of the RED line and then breaks the resistance above, the trade is canceled.
Updates will follow and I will notify if the trade is opened or cancelled.
If the chart follows the trend of the BLUE line, therefore, it breaks the support and retraces, retouching the support, we will enter SHORT on the point highlighted by the yellow circle. The trade will thus start with a RISK/RETURN set at 1:4.
If the chart follows the trend of the RED line and then breaks the resistance above, the trade is canceled.
Updates will follow and I will notify if the trade is opened or cancelled.
Comment:
Trade started
Trade closed: stop reached