BULL:
-Very strong upside move on a lower TF. Pullback expected to be brief.
-Higher lows forming
-On a higher TF it is still a bull trend, so probably better slightly more probability, that bigger trend is resuming?
-Healthy RSI
BEAR:
- Even though it is a bull trend and broad bull channel, there is a strong resistance from the previous fair value channel lower line.
-Previous fair value channel lower boundary coincides with present bull channel upper line to form strong resistance.
ERRORS:
Stop/loss too tight, should beat least at the level of the last HL.
Target is quite steep. Not unrealistic, but the position should be managed on the go.
-Very strong upside move on a lower TF. Pullback expected to be brief.
-Higher lows forming
-On a higher TF it is still a bull trend, so probably better slightly more probability, that bigger trend is resuming?
-Healthy RSI
BEAR:
- Even though it is a bull trend and broad bull channel, there is a strong resistance from the previous fair value channel lower line.
-Previous fair value channel lower boundary coincides with present bull channel upper line to form strong resistance.
ERRORS:
Stop/loss too tight, should beat least at the level of the last HL.
Target is quite steep. Not unrealistic, but the position should be managed on the go.
Comment:
Closed the trade at around 14.8 as strong resistance. RR 1:1. Will reevaluate if resistance will be broken.