I don't think there's much to say here. This is a MSB, even though there's little structure.
As there's no structure for resistance the last HL wick just becomes the entry (for the LH).
If price manages to get decently above this entry, I'll cut it and take the loss. Most structure has been formed here at the lows, so if price manages to get decently above my entry, it also gets above this structure, thus providing support which could make price jump up pretty quick as there's been little structure formed on the downmove.
Full 1R entry with SL red dashed line.
As there's no structure for resistance the last HL wick just becomes the entry (for the LH).
If price manages to get decently above this entry, I'll cut it and take the loss. Most structure has been formed here at the lows, so if price manages to get decently above my entry, it also gets above this structure, thus providing support which could make price jump up pretty quick as there's been little structure formed on the downmove.
Full 1R entry with SL red dashed line.
Trade closed manually
Closed for -0.13R
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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.