From the chart we can see that the currency pair is in downward trend.
The steepness of recent slope did not reduce means we are in downtrend.
Historical Huge Sell area forms a good resistance area (use it as defend for short position).
Recent bar shows significant Buy orders, which i interpret it as a higher retracement.
With the information on hand, plan the...
Price decline previous intention to go higher, Sell orders are overtaking buy orders!
Using good resistance level (Historical Huge sell order) as defend for Stop Loss, aiming for good TAKE PROFIT level.
Stop Loss and Take Profit = High RRR => Execute TRADE PLAN
There's still gap between current price to major resistance level in bigger time frame.
Recent bar shows impulsive buys near support area.
Price Action tells that buyers are overtaking sellers.
Identifying support area and targeted exit, High RRR = Enter Long
# First time posting, Any comments?