Unfortunately, last analysis hit our stop loss.
The price touched the upper trendline, formed a bull trap and I was stopped out. The price continued with the bearish momentum, filling in the imbalance formed by this commodity around 28th September.
Currently, the price has been forming a bearish flag/ channel (lower time frames) of which I anticipate that the price might be building a bullish momentum. If the price breaks out of the highlighted zone (around 1640) and retests it, I will have my entry @ 1645. If not, then I will wait for the price to form a suitable bearish entry.
My target will be @ 1645, Tp1 @ 1660, Tp2 @ 1675 and Tp3 @ 1690. The Sl is @ 1630.
My R: R is 1: 4.
Remember, risk only 1-2 % of your account.
The price touched the upper trendline, formed a bull trap and I was stopped out. The price continued with the bearish momentum, filling in the imbalance formed by this commodity around 28th September.
Currently, the price has been forming a bearish flag/ channel (lower time frames) of which I anticipate that the price might be building a bullish momentum. If the price breaks out of the highlighted zone (around 1640) and retests it, I will have my entry @ 1645. If not, then I will wait for the price to form a suitable bearish entry.
My target will be @ 1645, Tp1 @ 1660, Tp2 @ 1675 and Tp3 @ 1690. The Sl is @ 1630.
My R: R is 1: 4.
Remember, risk only 1-2 % of your account.
Comment:
Place your trades, now
Trade closed: target reached:
Tp 1 hit.
Kindly, move your stop losses above the entry point!
Kindly, move your stop losses above the entry point!
Comment:
I have been stopped out just above the entry point.
Let us wait for the market to outline another potential move!
Let us wait for the market to outline another potential move!
Trade closed: target reached:
TP 2 Hit!!