POSSIBLE SHORT IF AND ONLY IF IT BREAKS THE ZONE
IF AND ONLY IF no candle managed to break our entry zone and instead created a new higher high, this setup will be invalid. BUT AS LONG AS NOW NEW HIGHER HIGH CREATED, no matter how long it took to break the entry zone, it will be valid
Note
Kindly refer to my previous analysis on EUR JPY from a 1-hour perspective that I have done on 19 December for a bigger pictureNote
as for now, we won't take any action for H4 perspective, because price still can't break our first entry zone, we will only take action IF and ONLY IF price breaks our first entry zone, with a condition that it doesn't create a new higher high when it breaks the first entry zone. if a new higher high is created, this setup will be invalid as a new higher high will be referring to the previous low that is in relation to it. So a new setup will be needed. TRADE AT YOUR OWN RISK, APPLY GOOD RISK MANAGEMENT, AND NEVER GET CAUGHT WITH EMOTIONNote
This setup is still valid as no NEW HIGH is created, Prioritize risk management :DTrade closed: stop reached
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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.