We haven't broken out of the higher-timeframe selling channel yet, but I think that's why the setup is so attractive. We're being handed a "safe" entry ahead of that move — a chance to position before it happens.
We're officially back above all EMAs for the first time in a while, after teasing this level earlier in the year. Fake breakout or not, this is a clean trade: defined risk, clear parameters, and confirmations backing it up.
Waiting to see if we can get another failure by the sellers for that ultimate R:R entry and a trade from $24-$30 with a $22.70 stop loss.
Happy Trading :)
We're officially back above all EMAs for the first time in a while, after teasing this level earlier in the year. Fake breakout or not, this is a clean trade: defined risk, clear parameters, and confirmations backing it up.
Waiting to see if we can get another failure by the sellers for that ultimate R:R entry and a trade from $24-$30 with a $22.70 stop loss.
Happy Trading :)
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Weekly 'In the Trades' Newsletter - My favorite tradable setups right to your inbox!
betweenthetrades.substack.com
betweenthetrades.substack.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.