Price broke below the uptrend it was moving after reaching a key zone (0.618 fib and median line). In 4h chart RSI is overbought meanwhile in the lower timeframes we have a bearish divergence. I will personally wait for a correction after this breakout and go short aiming for big targets based on structure. A high probability setup with great value..
Price made it to 1.7359 went down. Should i delete the Sell limit or wait for another correction to 1.7360+ area.
Fxprotrader
⋅
Yes, you may delete it and see how it retrace to that level. If it retrace in a corrective mode, we will still look for sell
Mike_H
⋅
Buying the retracement up till 1.73738. Already in the blue, thanks mate..
Fxprotrader
⋅
Not a good idea in my opinion
Mike_H
⋅
Already closed, just scalping. Sell limit and sell stops are already in placed
Fxprotrader
⋅
Ok, good luck
BrayanRush
⋅
do you think is good wait a consolidation and entry?
Fxprotrader
⋅
Personally i always wait, if you have another strategy to trade breakouts follow it :) Good luck!
BrayanRush
⋅
I am very desperate and sometimes entered the wrong time ever, I asked to be learning, sorry to bother.
Fxprotrader
⋅
No bother at all.. Why to be desperate while trading? You follow your plan and you might trade one per week, or if the setups are there you may take 3 in a day :)