This continuation trade has confluence as far as entry, stops, and targets on both the 4hr and daily charts. Price kissed the descending trend line after meeting horizontal resistance with a Doji and the RSI creeping into overbought territory. I'm not sure if I'm being weak or realistic with my target. Between the slope of the descent and the next structural level, I think I could probably squeeze another 25 pips out of it. Thoughts?
Trade closed: stop reached:
Price broke structure to the upside and I was stopped out. My rules were followed and, from a technical perspective, I can't find a reason why I shouldn't have been in this trade. I'll mark this one up as a good trade that didn't work out.
