Potential for a nice interaction with the trendline. Risk capped off above the high of the week
Potential upside if the high of Tuesdays candle gets breached. Will be very safe on this one as there is not enough information yet confirming upside. Trade setup based on a daily bearish kangaroo tail ( aka pin par )
Price pattern occurred on a weak S&R zone. Not expecting a big move to the downside to happen yet. 3rd hit to the Low of the Month is likely before another potential big move to break Yearly highs, Then the big drop. If not it may fall from here. Sell Stops below the Low of today's daily candle Poor Risk to reward on the first trade because of a potential bounce...
Potential short if daily candle gets breached. LoM as first target. Hopefully trade is not triggered if it decides to continue rising from here
Potential drop if the low of the daily candle gets breached. May be short lived as they may be more rise off of the peak LoM.
Simple retouch inside reiststence area. Potential Downside before we start thinking on buying again. Formation of second shoulder also.
The 2 Possibilities in my eyes. We will only know if the trend line is significant once the market gets's there. So let's watch
Potential drop off of the daily Pin Bar. will watch what happens once it reaches the initial low of October. if it fails to break initial low then we could buy again. If not then it could break through
Will place buy stops a few pips above the high of this daily candle. If stop losses don't get taken out then will move to break even on second trade after first trade hits TP RR profile of first trade is poor but an average RR profile usually means a higher win rate. Structure also tells us we going up with a Higher High and a Higher Low formed Not risking more...