Price below EMA200 on M15 + Shooting Star + MACD bearish cross - Tokyo.
Entered this trade a few hours ago during Tokyo session. Price finally broke through the EMA200 on M15 putting us into sell territory. A shooting star had been printed and the MACD produced a bearish cross.
As several of you noted, there’s a clean FVG stack below — I placed my TP at the end of that block.
SL was set just above the most recent structure high, giving this trade a strong R:R of nearly 1:9.
RSI is already oversold, but in strong trending conditions, it can remain that way for a while.
Looks like we’re (hopefully lol) printing the closing leg of a clean M-pattern.
Entered this trade a few hours ago during Tokyo session. Price finally broke through the EMA200 on M15 putting us into sell territory. A shooting star had been printed and the MACD produced a bearish cross.
As several of you noted, there’s a clean FVG stack below — I placed my TP at the end of that block.
SL was set just above the most recent structure high, giving this trade a strong R:R of nearly 1:9.
RSI is already oversold, but in strong trending conditions, it can remain that way for a while.
Looks like we’re (hopefully lol) printing the closing leg of a clean M-pattern.
Trade closed manually
Closed it out. Having reached around 1:3 R:R price sharply reversed with a bullish MACD cross. I held for a while hoping it was just a fakeout but closed at B/E. Sigh.
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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.