My reason behind this setup is quiet simple and all down to price action
as you can see we have been trapped inside a rang for almsot 63 days and after 6 bullish days in a row it has met strong resistanceand after the daily candle close if it stays bearish i will enter short
(ONLY ON CLOSE OF DAILY CANDLE)
This will be more aggresive entry but if you want to be more conserviative wait for 4hr trend line to be broken then enter short
if price action closes above RES then a complete new setup will be in play
Happy Trading :)
as you can see we have been trapped inside a rang for almsot 63 days and after 6 bullish days in a row it has met strong resistanceand after the daily candle close if it stays bearish i will enter short
(ONLY ON CLOSE OF DAILY CANDLE)
This will be more aggresive entry but if you want to be more conserviative wait for 4hr trend line to be broken then enter short
if price action closes above RES then a complete new setup will be in play
Happy Trading :)
Note
remember huge news coming out today so if in trade lock in some profits as news could send it towards SL So smartest thing to do is lock in some profits :)
Note
re entered after USD news
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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.