We've got a few confluence factors for a short set up here..
Beautiful pin bar off an obvious S/R area, huge psych level of 50.00, stoch overbought.
Entry on a break of the pin bar around 48.60.
SL at 51.05 - above proxy high and 50.00.
TP near S/R area at 40.50. Will be cautious at the 45.00 level too.
Potential return of ~3.3R
Beautiful pin bar off an obvious S/R area, huge psych level of 50.00, stoch overbought.
Entry on a break of the pin bar around 48.60.
SL at 51.05 - above proxy high and 50.00.
TP near S/R area at 40.50. Will be cautious at the 45.00 level too.
Potential return of ~3.3R
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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.