If you do enjoy this please let me know. This is something I do want to start doing to get acknowledgement and to help others succeed in their trading. Please comment below if you enjoyed and as well type "VERY HELPFUL" if you may be interested in learning the way I trade and break down the markets! HAPPY TRADING!
Looking for a new leg to be formed to the downside. As you can see, we formed a very nice bearish engulfing candle on the daily and expecting that momentum to keep pushing down. I do have both TPs set at the green Highlighted Zones! Happy Trading!
I do like this setup as we do have a wonderful risk reward ratio! We have been on a continuous downtrend and now we have came to an area where price has fallen more than once. We do have some confluence as well with the 50% fib retracement lining up with that specific price level and near our monthly resistance. Depending on how you would like to put your SL, You...
After seeing multiple bounces off of our trendline and now getting a break, we could potentially see this market to keep that bearish momentum to push to our next monthly level. I gave an order with a SL and TP with this trade aiming for a strong 1:4 risk reward. Remember to not over-leverage, and happy trading!
As we can see we have multiple touches and rejections off of the key level of 142.500 and could potentially still see down side to 141.000. The risk reward is great and we could possibly cash out 100+ pips. Happy trading and also use proper risk management!