Price action and chart pattern trading setup > Contracting Wave Channel pattern with downtrend target around the corner. > Entry @ minor downtrend channel in daily timeframe breakout above SMA200 > TP1 @ wave (3) position > TP2 @ wave (5) III position for medium term > Stoploss @ SMA200 downside -9% RRR: 2:1
Indicators signals not shown here: > Smart money volume support > Banker chip entry signal
Trade closed: stop reached
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200 day support totally failed and now challenging its 200 week support at 0.618 retracement - could be further decline to its previous major 1-wave support 20 baht zone: