According to market structure , a bearish movement is there and steep flag breakout providing a good confirmation of strong sell with a good bearish candle 🙌
Wait for the retest of the bright blue-green declining trendline on the 1HR chart and enter on success
Looks clean, initial TP will be at the previous swing highs as indicated
Depending on momentum at this point may leave in 30% to try to run higher as the shape height suggests the TP should be nice and high
Stops just below a key SR level, not risking more than...
- Dump from supply zone, expected retrace back up
and another dump.
- 1.75859 has acted as a good support level, increasing
the likelihood of price retracing once it closes around
this level.
- Entry set to bottom of the supply zone, with stop loss
just above the supply zone.
- Target will be the last lower lows.
- Rejection and bounce back of bottom of long term trend
- Reacting nicely off 0.786 fib level
LOOKING TO BUY IF FOLLOWING CONDITIONS ARE MET;
- Close above 0.786 fib
- Close above 20 EMA (moving support)
EXTRA CONFIRMATION;
- Bullish candlestick
- RSI pointing up
Look at previous price action around this level, it retested the grey area several times before shooting off
Wait for price to hit the grey area and show a strong bullish move before buying!
We can see that this finally broke out and is now going to retrace, I am waiting for price to respect one of the Fibo levels before I place a buy to the top!
This can be sold from this level and im going to guestimate TP will be around the 50.0 level
