Market Context: Price is within a bearish Weekly Fair Value Gap (FVG) following a new swing low. Awaiting reversal confirmation during the current retracement. Monitor the MACD for Bearish Divergence signals.
Entry Strategy: Enter short when the trendline is broken.
Target and Stop-Loss:
Target Price (TP): 3050 (1.618 Fibonacci extension)
Stop-Loss (SL): 5850 (above FVG high)
Monitoring: Track the price daily and adjust based on new market information.
Documentation: Record trade details and observations for future analysis.
Entry Strategy: Enter short when the trendline is broken.
Target and Stop-Loss:
Target Price (TP): 3050 (1.618 Fibonacci extension)
Stop-Loss (SL): 5850 (above FVG high)
Monitoring: Track the price daily and adjust based on new market information.
Documentation: Record trade details and observations for future analysis.
Note
Additional Comment: Target Price is within untested Weekly FVG from 4 Oct 21 Candle
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.
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.