Active COT Signal and downtrend on weekly:
The 1d bearish market structure is still in place.
On the 4h timeframe a small correction is confirmed and upper range of 1d market structure. If next 4h candle close below last low then lower high is confirmed and 4h down trend is in line with weekly and daily time Frame
RR: 1:2
Make your own decisions!
The 1d bearish market structure is still in place.
On the 4h timeframe a small correction is confirmed and upper range of 1d market structure. If next 4h candle close below last low then lower high is confirmed and 4h down trend is in line with weekly and daily time Frame
RR: 1:2
Make your own decisions!
Comment:
Todays first 4h candle shows a long wick into the expected reversal area. If the last low is broken on the 4h the trade may play out. Due to long wick the RR is reduced to 1:1.85:
Trade active
Trade closed: target reached:
on 2.1.2024