A textbook trade out in the real world.
Price has been moving in a good upper channel for some time and it has reached the resistance trend line for the channel.
An extremely good chance that the price will travel down to the supporting trend line.
The stop loss is placed very tightly, if by chance it gets taken out, enter again when it retests at the above (near the blue rectangle).
However, if you wanna play conservative, go with the blue line that I drew as a small trendline, when the price touches that, look for a retest and nice bearish candle, and enter the trade with a good stop loss above the resistance level.
Never risk more than 0,5% on a single trade and stop-loss to entry when 2 RR achieved.
Nothing is guaranteed in trading but finding high possibility setups with a good probability of the trade working out may just do the job.
Price has been moving in a good upper channel for some time and it has reached the resistance trend line for the channel.
An extremely good chance that the price will travel down to the supporting trend line.
The stop loss is placed very tightly, if by chance it gets taken out, enter again when it retests at the above (near the blue rectangle).
However, if you wanna play conservative, go with the blue line that I drew as a small trendline, when the price touches that, look for a retest and nice bearish candle, and enter the trade with a good stop loss above the resistance level.
Never risk more than 0,5% on a single trade and stop-loss to entry when 2 RR achieved.
Nothing is guaranteed in trading but finding high possibility setups with a good probability of the trade working out may just do the job.