Asset and Time frame - JMIA,1H
Entry Price -37.85(For a safer entry wait for the hourly candle to close bullish)
Exit(Stop Loss) -37.42
Exit(Take Profit) -49.69
Technical Analysis -Price rebounded from the 4H Fibonacci level of -0.272, we have a major volume spike and the crossing of both MA, including on the 4H chart, on the daily chart the RSI hasn't crossed the 40 line, and right now on the premarket, price is sitting on a significant daily level
I would like to hear your opinions and what can I do to improve, many thanks
Entry Price -37.85(For a safer entry wait for the hourly candle to close bullish)
Exit(Stop Loss) -37.42
Exit(Take Profit) -49.69
Technical Analysis -Price rebounded from the 4H Fibonacci level of -0.272, we have a major volume spike and the crossing of both MA, including on the 4H chart, on the daily chart the RSI hasn't crossed the 40 line, and right now on the premarket, price is sitting on a significant daily level
I would like to hear your opinions and what can I do to improve, many thanks
Comment:
Comment:
@superhumankm,
This is the 4H chart, the price is having a hard time getting back into the down-trending channel, and there is a 4H Fibonacci range that made an ABC, now if the momentum will be back, we should see it resume the up trend
This is the 4H chart, the price is having a hard time getting back into the down-trending channel, and there is a 4H Fibonacci range that made an ABC, now if the momentum will be back, we should see it resume the up trend
Trade closed: stop reached:
I should have waited for the 4H correction to be done before entering the trade and let the price have some space before entering.