Reasons for
-Firstly we have broken key trend line
-We have had an area of consolidation
-And now we are getting a impulse move to the downside
-We also broke constructive structure !
-So selling the impulse to the downside would be a good idea !
-Previous four hour candle was a engulfing that took out Almost a day worth of Price action !
-Altho this is a counter trend move i am trying to catch the start of a new trend which is risky but with a good Risk reward ! it is very worth taking the risk :)
-Also on the daily the previous daily candles was a bearish hammer
so hopefully we can break this low and then continue lower ! :)
Good luck everyone and have a good trading week :)
Keep good risk management 1% of account :)
-Firstly we have broken key trend line
-We have had an area of consolidation
-And now we are getting a impulse move to the downside
-We also broke constructive structure !
-So selling the impulse to the downside would be a good idea !
-Previous four hour candle was a engulfing that took out Almost a day worth of Price action !
-Altho this is a counter trend move i am trying to catch the start of a new trend which is risky but with a good Risk reward ! it is very worth taking the risk :)
-Also on the daily the previous daily candles was a bearish hammer
so hopefully we can break this low and then continue lower ! :)
Good luck everyone and have a good trading week :)
Keep good risk management 1% of account :)
Trade closed manually:
This trade closed For break even
No gain or Loss
No gain or Loss
