Reason for this trade: price has been respecting the decending wedge, we saw that price was reacting with the descending support forming a lower low. I waited for some momentum to the upside and targeted the resistance of the descending wedge. I placed the trade simply of momentum and precious price action. I want to start including more confluence to my positions either with stochastic or MA so if any could advise I would be very grateful.
I was tempted to go long again as price closed above the descending wedge but it quickly came back bellow. I'm now going to wait for some momentum back to the downside!
I was tempted to go long again as price closed above the descending wedge but it quickly came back bellow. I'm now going to wait for some momentum back to the downside!