BREAK AND RETEST PLAN: 1.WAIT for a 4hr close below a support zone . 2.WAIT for retest back into or close enough to the zone . 3.Wait for some sort of rejection on the 30min or hourly. 4. Wait for price confirmation 5. Sell The trend is your friend, it makes no sense to trade against it. my analysis is done according to momentum.
stops should be adjusted based on how and where the 4hr candle closes. so risk might increase or decrease.
Trade closed: target reached
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price smashed target, hitting 127pips. we got a rejection around our red zone which was enough to tell me we are dropping.