It seems very likely that the market will continue to move down,after having broken through multiple structures within a major demand zone.
I entered shortly after a 5m-time frame retest of the very bottom of the demand zone.
Will update you about this trade's progress.
I entered shortly after a 5m-time frame retest of the very bottom of the demand zone.
Will update you about this trade's progress.
Nota
Also wanted to add that I used the previous rejection of the demand zone by two long wicks as a confirmation that most retail stop orders had been triggered. Since the two long wicks were followed by a continued downtrend, it signaled to me that the bullish power was not strong enough to adhere to the demand zone and that a downward break became very likely.Dagangan ditutup: hentian tercapai
Unfortunately we got stopped out, but since I still have confidence that price will move down, I reentered the same trade with my new stop loss being at the top of the former demand zone.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.