DAily candle yesterday closed bullish at the top of the resistance. Price came and broke daily lows. We are anticipating clean move down to the bottom of the range. We are taking positions as we break the low. The SL is the current 1H candle high. If prices were to break that high again, it wont make sense to hold onto the trade. There is clean traffic looking left and we want volume to push price back town to the support. Price also has rejected pushing higher on the lower TF and closed below the R. TP is the bottom of the range or the next support.
Trade closed: target reached:
TP smashed and we collected 2% today on this one. Very simple and easy read of price action. Volume came in during asian session and managed to complete the move!