Entered this risk entry trade at 0.65925 with a 15 pip stop below structure.
Confluence Factor
- Large Daily double bottom with the second bottom being a descending channel
- 3rd touch on the 4HR descending channel with a descending channel
- 3rd touch on the 1HR descending channel with a descending channel
- 3rd touch on the 15M descending channel with a descending channel
Due to the amount of descending channels we can see on the 3rd touch of structures suggests a reversal of price iminent.
Confluence Factor
- Large Daily double bottom with the second bottom being a descending channel
- 3rd touch on the 4HR descending channel with a descending channel
- 3rd touch on the 1HR descending channel with a descending channel
- 3rd touch on the 15M descending channel with a descending channel
Due to the amount of descending channels we can see on the 3rd touch of structures suggests a reversal of price iminent.
Comment:
Stop to BE as we have broke out of structure
Trade closed: stop reached:
Stopped out for BE