- We had weak momentum to the downside creating descending channels breaking the lows and retracing showing price does not want to continue to the downside
- At the bottom we got another channel with a smaller descending channel showing more weakness
- we get a strong push that breaks through the channel with little to no wicks
Entry: 1.38240
Stop: 1.37990
25 pips
- we had weak momentum to the downside price breaking the lows and retracing showing weakness and creating a descending channel
- price breaks the channel with a strong push
Entry 1.18359
stop 1.18239
12 pips
-Price ended last week with large wicks breaking the highs and retracing
- Price then went into range and started to consolidate
- Price broke out of the range with some momentum
- If price does not pull back aggressively i will try to get in the first move to the downside High probability low risk
- I will set a sell limit order and wait for price to pull back...
Confluences for sell
price rejects 3400 level multiple times
price breaks out of consolidation box and retest
fib retrace of higher and lower timeframe
