Key Level Structure Trade
Updated
This pair atm is consolidating; You can have a look at 4 Hour time frame.
On the 1HR TF, market is currently consolidating at the key supply area, 1.6040. My second point here is the conventional head & shoulder pattern giving us more confluence to short this market.
Entry: 1.6000
Stop Loss: 1.6047
1st TP: 1.5920
2nd TP: 1.5830
Cheers.
On the 1HR TF, market is currently consolidating at the key supply area, 1.6040. My second point here is the conventional head & shoulder pattern giving us more confluence to short this market.
Entry: 1.6000
Stop Loss: 1.6047
1st TP: 1.5920
2nd TP: 1.5830
Cheers.
Trade closed: stop reached
Market did went down a little after the entry but failed to hit the 1st TP predicted. Nonetheless, if your initial target was set to a risk reward of 1:1, it would had been a winning trade.
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.