Price is in a descending channel with 2 possible Harmonic Patterns where C - D leg are closely met at Fib ratio of .886 and Fib Ext 2 and 1.414
On H4 Chart tracking back the initial rally and where price had come back down and respects the same range as PRZ
Very cautious with this one as counter trend trade on a down trend is not recommended.
However, the confluence, structure and R&R is worth a trade.
No pending order.
On H4 Chart tracking back the initial rally and where price had come back down and respects the same range as PRZ
Very cautious with this one as counter trend trade on a down trend is not recommended.
However, the confluence, structure and R&R is worth a trade.
No pending order.
Trade active
Comment:
Trade closed: target reached:
Only 1 TP as it's a short term trade on a downtrend. As mentioned, cautiously took this trade.
Only 1 TP as it's a short term trade on a downtrend. As mentioned, cautiously took this trade.
Comment:
I am looking for another buy opportunity. Please follow this link for details.
