Asset and Time frame -NIO,1Hour chart
Entry Price -2.55
Exit(Stop Loss) -2.49
Exit(Take Profit) -2.73
The range between SL and entry -0.06$
Technical Analysis -An engulfing bullish candle making a higher high, price reacted to an ABC pattern of the Fibonacci,stop loss was placed under the 0.618 level and TP was set at the 161.8 level
Why not enter the trade - On the hourly chart the price needs to break 2 SMA(the 100&200)
What direction does the market move -Strongly Bearish
What can be improved -
Conclusion & End of Trade -
Entry Price -2.55
Exit(Stop Loss) -2.49
Exit(Take Profit) -2.73
The range between SL and entry -0.06$
Technical Analysis -An engulfing bullish candle making a higher high, price reacted to an ABC pattern of the Fibonacci,stop loss was placed under the 0.618 level and TP was set at the 161.8 level
Why not enter the trade - On the hourly chart the price needs to break 2 SMA(the 100&200)
What direction does the market move -Strongly Bearish
What can be improved -
Conclusion & End of Trade -
Trade closed: target reached:
RRR 3