Clear rejection off trendline, looking for a good entry.
Setup:
We can see that the RSI has formed a horizontal support level, even though price had been going down, indecating more streagth than weakness.
This clear agressive rejection indecates price has now changed bias to the up side.
Entry:
Placing a limit order and waiting for a retest of last consolidation level in convergence with the short term trendline (dotted in blue).
Placing my stop loss just at the bottom of the last consolidation, as this would invalidate the trade intirely.
Placing my Take profit just below the last major resistance level.
With this entry, I am giving myself a 3.7RR
We can see that the RSI has formed a horizontal support level, even though price had been going down, indecating more streagth than weakness.
This clear agressive rejection indecates price has now changed bias to the up side.
Entry:
Placing a limit order and waiting for a retest of last consolidation level in convergence with the short term trendline (dotted in blue).
Placing my stop loss just at the bottom of the last consolidation, as this would invalidate the trade intirely.
Placing my Take profit just below the last major resistance level.
With this entry, I am giving myself a 3.7RR
أغلقت الصفقة: تم الوصول لوقف الخسارة
The bounce didn't work
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.