Price has broken 7.50 Major key level and closed the day with an inversal candlestick (hanging man).
We also made a LH indicating a change in market structure (1H candlesticks are indicating strong sell).
Next week i expect the trendline to break and start a new downtrend.
I wait a cross of moving averages and a creation of a new LH on 30 minutes timeframe before entering the trade.
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We also made a LH indicating a change in market structure (1H candlesticks are indicating strong sell).
Next week i expect the trendline to break and start a new downtrend.
I wait a cross of moving averages and a creation of a new LH on 30 minutes timeframe before entering the trade.
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Comment:
On 30 minute timeframe price also made a continuation wedge and that confirms our bias.
Trade closed: target reached
