This is a simple break of structure and retest. The red arrow is pointing to the last daily structure level.
If you go to the daily chart, you will not see that candle.
Only visible on 8hr and 16hr timeframe
Technically, Stop loss must be below that candle, but I am not going to risk almost 50pips on a trade.
Not my thing because that can be a good TP on a regular day lol . Anyway all information on chart.
I know a lot of people will take short positions right now without checking last daily structure and will be trapped for half of the day.
I believe this will be the last move up before the big drop. Pending order at 114.4
If you like this idea, please give this a thumbs up. If not please let me know your thoughts.
Thank you and all the best
If you go to the daily chart, you will not see that candle.
Only visible on 8hr and 16hr timeframe
Technically, Stop loss must be below that candle, but I am not going to risk almost 50pips on a trade.
Not my thing because that can be a good TP on a regular day lol . Anyway all information on chart.
I know a lot of people will take short positions right now without checking last daily structure and will be trapped for half of the day.
I believe this will be the last move up before the big drop. Pending order at 114.4
If you like this idea, please give this a thumbs up. If not please let me know your thoughts.
Thank you and all the best
Comment:
Moving as expected :-)
