According to the chart, we have a bearish triangle. As you know, the triangle has 5 waves (ABCDE). Now the E wave of this triangle remains.
We have identified two suitable levels for the completion of wave E of this triangle, and for each level we have specified an invalidation level that if a daily candle closes above this level, that level will be violated.
If the lower level i.e. 1.1200-1.1822 is violated, we will look for sell/short positions at the second level i.e. 1.2858-1.3630, if the upper level is also violated, the entire analysis will be invalidated.
A reasonable R/R can be obtained at any level. When the first target is hit, change your stop to entry
On the chart, the $$$ symbols are the liquidity pools.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
We have identified two suitable levels for the completion of wave E of this triangle, and for each level we have specified an invalidation level that if a daily candle closes above this level, that level will be violated.
If the lower level i.e. 1.1200-1.1822 is violated, we will look for sell/short positions at the second level i.e. 1.2858-1.3630, if the upper level is also violated, the entire analysis will be invalidated.
A reasonable R/R can be obtained at any level. When the first target is hit, change your stop to entry
On the chart, the $$$ symbols are the liquidity pools.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
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