Current swing : uptrend
Setup strategy : pull back (sell limit entry)
price likely to test again on this previous daily resistant zone again (blue zone), I would foresee the price likely to go up higher first (to form a bull flag) before it turns to south.
if price manage to close below this daily resistant zone plus a sell confirmation, a short term pull back (sell setup) would be placed.
Wait for the price to set higher first before sell trade is executed where sell limit order around 114.18
Target TP 113.35
Stop loss SL 114.50
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Setup strategy : pull back (sell limit entry)
price likely to test again on this previous daily resistant zone again (blue zone), I would foresee the price likely to go up higher first (to form a bull flag) before it turns to south.
if price manage to close below this daily resistant zone plus a sell confirmation, a short term pull back (sell setup) would be placed.
Wait for the price to set higher first before sell trade is executed where sell limit order around 114.18
Target TP 113.35
Stop loss SL 114.50
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority