Looking at our H4, we see price reject our supply zone for a third time indicating a potential short set up loading.
We then patiently waited for confluence of this set up which came in the form of the ascending trend line being broken. Going down a timeframe to H1 we notice a triple top being broken, price coming back for a re-test and a bearish confirmation candle indicating further bearish momentum.
Target is to fill the range at 1.16900 but we will have our first TP at the next demand zone and if price has enough momentum we will hold some positions open for the full downwards move.
Use proper risk management, I’ll update the trade’s progress as price unfolds.
We then patiently waited for confluence of this set up which came in the form of the ascending trend line being broken. Going down a timeframe to H1 we notice a triple top being broken, price coming back for a re-test and a bearish confirmation candle indicating further bearish momentum.
Target is to fill the range at 1.16900 but we will have our first TP at the next demand zone and if price has enough momentum we will hold some positions open for the full downwards move.
Use proper risk management, I’ll update the trade’s progress as price unfolds.