1. Strong movement downwards, and we think it is headed for a support level within a few hours
2. NOTE: we are trading against the trend, another intracycle trade. From a preliminary analysis standpoint, our Return/Risk ratio should go down in relation to the probabilities where we want to exit, and the likely stop we set to exit if the trade goes against us.
2. NOTE: we are trading against the trend, another intracycle trade. From a preliminary analysis standpoint, our Return/Risk ratio should go down in relation to the probabilities where we want to exit, and the likely stop we set to exit if the trade goes against us.
Trade active
Trade closed manually:
Exited manually. The candle movement did not look good as bulls are fighting back bears! Seems we are hitting a support level much faster than initially. Will continue to monitor.
Comment:
True enough, good thing we exited early! Keep losses small, keep winners running!!