Lower Low on the way
I'm going to focus on a higher time frame swing trade here. We are currently in a bearish market structure with a clear lower low and lower high.
The 4 hour is printing a lower high so the expectations are that it makes a new lower low next. My guess is 22 before we eventually get back down to 21.4.
The 4 hour is printing a lower high so the expectations are that it makes a new lower low next. My guess is 22 before we eventually get back down to 21.4.
Trade active
This is still an active trade. I'm manually closing this trade, so the stop will only trigger for me if there is a close above that point. That SFP is exactly why I didn't setup an automated stop on this one.Trade active
It's right on track. My current TP1 is 22.4 area.Trade closed: stop reached
I'm closing it here at breakeven. I don't trust this price action.
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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.