Now that the market has pulled back after the breakout, a short opportunity based on the technicals has formed.
1. Breakout
2. Pullback to fibo levels
3. Sell signal candle (doji)
4. Moving average pinned
for these setups the stop is best placed above the highs where the trade would be considered invalidated and the target is at least 2x the risk - in this case the first low of the rising wedge pattern is also a good target but with a 1:6 risk to reward ratio.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
For live updates please feel free to join Forex Bootcamp using the link below
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
1. Breakout
2. Pullback to fibo levels
3. Sell signal candle (doji)
4. Moving average pinned
for these setups the stop is best placed above the highs where the trade would be considered invalidated and the target is at least 2x the risk - in this case the first low of the rising wedge pattern is also a good target but with a 1:6 risk to reward ratio.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
For live updates please feel free to join Forex Bootcamp using the link below
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.