Excuse me for posting late. But on this chart you see that the bulls have pushed the price back far, which result a candlestick pattern called a hammer. Beside you see a big volume on this hammer, so it would be likely to go up.
So the best scenario was to buy at the hammer and use that support line as a stop loss.
What kind of target would I be setting is at 11.28$
So the best scenario was to buy at the hammer and use that support line as a stop loss.
What kind of target would I be setting is at 11.28$
Comment:
I would be a little bit scared here, so I would take out 50% of my trade. Because the bulls tried to push up in this 2-hour but the bears immediatly pushed back the price. So either way the bulls can take over the control or the bears. But I give the bears slightly the favor, because the overall trend is still going down
Trade closed manually:
I would take out my position, because of that shooting star. The whole trend is still in a downtrend. You can re enter your position if it close above the 10.30