Entry: Around 4240
SL: Slightly above the interim swing high of 4384
Target: Around 3537
R:R: 3.99
Reason for entry:
- 2nd rounded retest of top line of weekly OB (red dotted line on chart)
- No D1 close above the red dotted line ever since the recent uptrend started on 15 December 2018 (25 days ago)
- Bear Div on D1 RSI (Higher high on RSI whilst Lower high on Price)
- Invalidation right above the recent swing high offering an excellent risk defined entry
SL: Slightly above the interim swing high of 4384
Target: Around 3537
R:R: 3.99
Reason for entry:
- 2nd rounded retest of top line of weekly OB (red dotted line on chart)
- No D1 close above the red dotted line ever since the recent uptrend started on 15 December 2018 (25 days ago)
- Bear Div on D1 RSI (Higher high on RSI whilst Lower high on Price)
- Invalidation right above the recent swing high offering an excellent risk defined entry
Order cancelled:
Unfortunately my order did not get filled (missed entry by 100 points) and we saw a violent move down today. Hence, this trade set up is not valid anymore. However, pretty happy to see that my trade bias was right and I sensed this dump in advance.
