I mentioned last week that because of the strong bearish trend on AJ, if resistance is retested we could see a very good opportunity to sell.
On the 1 hour we see resistance being retested with bearish candles rejecting resistance.
This setup is an actual trade I have taken. Targets are at previous lows and SL is the same distance away for a 1:1 risk reward.
SL is protected by the resistance level at entry.
Note: I've place a limit order because the market may consolidate before moving down. The limit order allows for a better entry.
On the 1 hour we see resistance being retested with bearish candles rejecting resistance.
This setup is an actual trade I have taken. Targets are at previous lows and SL is the same distance away for a 1:1 risk reward.
SL is protected by the resistance level at entry.
Note: I've place a limit order because the market may consolidate before moving down. The limit order allows for a better entry.
Trade closed: stop reached:
SL was hit, however, my bias is still bearish.
