Weekly Structure - Downtrend
Daily Structure - Downtrend
On 1 hour Time Frame we can see there was a false breakout from the descending trendline (green line) and the price has reverted and created a head and shoulders pattern. Neckline of the H&S has been broken and is now being tested. The price could drop until 0.66100/0.66000 (strong level of support).
TP1 - 0.67500
TP2 - 0.67000
TP3 - 0.66100
SL - 0.68330
R/R - 4.5
Good Luck!!!
Daily Structure - Downtrend
On 1 hour Time Frame we can see there was a false breakout from the descending trendline (green line) and the price has reverted and created a head and shoulders pattern. Neckline of the H&S has been broken and is now being tested. The price could drop until 0.66100/0.66000 (strong level of support).
TP1 - 0.67500
TP2 - 0.67000
TP3 - 0.66100
SL - 0.68330
R/R - 4.5
Good Luck!!!
Note
You can move stop loss to break even point.Note
Trade Closed at break event. Markets to volatile right now, however I think trade is still good and will reach the target.
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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.