Setup: There is huge rejection off the POC in the 1h timeframe signified by the large volume candle. This looks real bearish for Perp. Furthermore, Perp is also on a long term downtrend, adding confluence to the trade. For extra confirmation, we will like to see it consolidate before breaking down.
Entry: Breakdown trade( 1 ATR below the weekly lows) at 1.02
Exit: Trail using the SAR indicator
Entry: Breakdown trade( 1 ATR below the weekly lows) at 1.02
Exit: Trail using the SAR indicator
Note
Entered trade at 1.047 with trailing SL set using SAR at 1.19
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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.