There're a couple of trade-ideas within this chart.
1. If the market retraces back to the resistance(red) line, it will provide a shorting opportunity on an aggressive setup, with the best Reward: Risk within this trade.
2. If the market finds support at 1.3934 in addition a magic candle appears, I may engaged a countertrend trade as an ABCD Pattern setup.
3. A trading opportunity can also develop within the consolidation area as a bat pattern setup.
Personally I prefer setup(1) and (3) let see what does the market give us.
1. If the market retraces back to the resistance(red) line, it will provide a shorting opportunity on an aggressive setup, with the best Reward: Risk within this trade.
2. If the market finds support at 1.3934 in addition a magic candle appears, I may engaged a countertrend trade as an ABCD Pattern setup.
3. A trading opportunity can also develop within the consolidation area as a bat pattern setup.
Personally I prefer setup(1) and (3) let see what does the market give us.
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Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
www.tiktok.com/@raynlim