This is a good risk to reward trade. On the monthly we are encountering a tenkan which is a resistance level. The daily is showing a loss of momentum due to this resistance and we expect price to go back to equilibrium on the kijun level which is our ultimate target. The trade is taken on the H4 after a change in structure was confirmed now. We broke down through the blue zone came back to test it and now we are on our way down.The structure is also a bearish head and shoulders shape but we are getting in early.
Entry: 2 positions @ 71.156
SL: 71.476 (slightly above the high)
TP1: 70.770
TP2: 70.192
NB: Risk management is what keeps us in the game!
Entry: 2 positions @ 71.156
SL: 71.476 (slightly above the high)
TP1: 70.770
TP2: 70.192
NB: Risk management is what keeps us in the game!
