A super trade about to set up!
We have a bearish gartley set up complete, giving us an indication price may fall down.
Price action has made a breakout pass a long term resistance line, but it is also just as likely to be false.
The first reason is that this candle closed below structure, and that this resistance has not been tested in the past.
This gives us a good reason to go short, as it confluences with structure.
We will await a couple of reversal candles before entering, and opt for a trailing SL for execution
Learn the trade
www.patreon.com/indigotradinggroup
Good luck <3
We have a bearish gartley set up complete, giving us an indication price may fall down.
Price action has made a breakout pass a long term resistance line, but it is also just as likely to be false.
The first reason is that this candle closed below structure, and that this resistance has not been tested in the past.
This gives us a good reason to go short, as it confluences with structure.
We will await a couple of reversal candles before entering, and opt for a trailing SL for execution
Learn the trade
www.patreon.com/indigotradinggroup
Good luck <3