Price formed a nice bearish flag, and now is breaking and retesting the 4H support. We can expect price to come down to the area marked with TP1 being the area of interest to see if price will continue down.
Comment
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Price has pretty much almost reached TP1. Stops are in profit now. I will see how it reacts around this area to determine whether to hold trade
Yes so long the 4H remains rejected we should seen continuation to the downside.
Investroy
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Amazing bias, do you think the price will reach your target?
sunnyk92
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@Investroyllc, Hi mate,
in trading nothing is guaranteed but we look for the most probable set up and must consider the counter-argument.
This trade formed a nice bearish flag and has since broke from the 4H strong support. We can expect price to come down to the TP1 level and see how it develops from there to gauge if we are to see a drop down to monthly support. I have taken the trade personally risking 1%. Let's see