Price is showing signs of rejection at a significant reversal zone. So far it looks like today's candle might close as an indecision. We will wait to see if price starts making lower lows. a safer entry would be to wait until price breaks below last Friday's candle, hence we set our entry order at (75.338) below the candle. This also helps us to find a better Risk/Reward ration as we seek to place our stop loss above the same candle at (75.910). Our take profit will be at the next zone (74.140).
Note
Note: This is an overall downtrend, and this offers a good opportunity to catch a trend continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.