Entry - 55.82
SL - 56.39
TP1 - 55.12
TP2 - 54.44
What's good everyone?!
Apologies for not posting any of my trades from last week. Needed to get my mind right.
Anyway, I decided to take a look at that liquid gold (not the cheesy stuff lol).
Upon Daily analysis of the current channel price is playing within, we see that it has come to the top, or possibly met resistance. This also looks like it could be your typical break and retest of the support and resistance level (white horizontal line).
Zooming in to 4H we notice the strong bearish candle pushing down to the trend line (yellow) and possibly even breaking it, depending on how you draw it.
On the 1H time frame we see more signs of the bearish move.
- Break of kijun and the trend line.
- Break of the bearish fractal.
- Double (possibly triple) top formation.
The future is still bright, but I do believe the pair may come back to test the cloud, or S/R level again, before continuing in it's upward trend.
I placed a small amount of capital on this trade, and will scale in if the opportunity presents itself.
Let's see what happens!
SL - 56.39
TP1 - 55.12
TP2 - 54.44
What's good everyone?!
Apologies for not posting any of my trades from last week. Needed to get my mind right.
Anyway, I decided to take a look at that liquid gold (not the cheesy stuff lol).
Upon Daily analysis of the current channel price is playing within, we see that it has come to the top, or possibly met resistance. This also looks like it could be your typical break and retest of the support and resistance level (white horizontal line).
Zooming in to 4H we notice the strong bearish candle pushing down to the trend line (yellow) and possibly even breaking it, depending on how you draw it.
On the 1H time frame we see more signs of the bearish move.
- Break of kijun and the trend line.
- Break of the bearish fractal.
- Double (possibly triple) top formation.
The future is still bright, but I do believe the pair may come back to test the cloud, or S/R level again, before continuing in it's upward trend.
I placed a small amount of capital on this trade, and will scale in if the opportunity presents itself.
Let's see what happens!