Intraday-1.
If you look at H2 chart you'll see a perfect example of how triangle wave reacts to decision making price range (DMR) of the same level (blue, in particular). It significantly increase reversal probability and assist trader's confidence in sell stop placement. For now, at this time-frame I'd prefer to set sell stop at 1.1315 and current SL at 1.1420, which, in turn, might be shifted closer as price continues to fall down.
If you look at H2 chart you'll see a perfect example of how triangle wave reacts to decision making price range (DMR) of the same level (blue, in particular). It significantly increase reversal probability and assist trader's confidence in sell stop placement. For now, at this time-frame I'd prefer to set sell stop at 1.1315 and current SL at 1.1420, which, in turn, might be shifted closer as price continues to fall down.
Note
Intraday-2.Wait for grey 2.1 marker is placed to sell at 1.1 marker level.
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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.