Simple Technical and price action analysis.
On 4H TF the price might behave choppy around MA 100, but the Daily TF is having all the signals for the short side, together with Renko chart.
On 1hTF, we can see price rejecting from 79usd area, with some spikes created on the last 3 candles. This means that there were some buying limit orders there that were filled. Now there are 2 possibilities.
1. The buyers will recover, closing above this 79 level.
2. An aggressive sell candle will form under 79 level, basically taking over the buying limits at that level.
The SEll trade will be placed after the aggressive red candle has closed on 1h TF.
Don't Stumble Trading. Trade Safe!
On 4H TF the price might behave choppy around MA 100, but the Daily TF is having all the signals for the short side, together with Renko chart.
On 1hTF, we can see price rejecting from 79usd area, with some spikes created on the last 3 candles. This means that there were some buying limit orders there that were filled. Now there are 2 possibilities.
1. The buyers will recover, closing above this 79 level.
2. An aggressive sell candle will form under 79 level, basically taking over the buying limits at that level.
The SEll trade will be placed after the aggressive red candle has closed on 1h TF.
Don't Stumble Trading. Trade Safe!
Trade closed: target reached
Comment:
I am short again at this point
Comment:
Trade closed: target reached:
TP reached on 2nd trade