Chart: Daily Time frame
Market: Bearish Trend
Bearish Indicators
1. Double top found at key 128.000 resistance level
2. Bearish Engulfing Candle (1st of April)
3. Price rejects 128.000
4. Rising wedge chart pattern
5. Double top & bearish engulfing pattern are all found just below the daily/weekly trendline resistance level
Risk Management
Risk/Reward Trade 1 - 1:1.70
Risk/Reward Trade 2 - 1:2.96
Stop Zone (trade 1 & 2) - 128.380 (just above 31st of march high)
Target 1 - 125.500
Target 2 - 124.100
Note: Price could pull back 127.600 before continuing lower, trade with caution.
Agree/Disagree? Comment Below!
Market: Bearish Trend
Bearish Indicators
1. Double top found at key 128.000 resistance level
2. Bearish Engulfing Candle (1st of April)
3. Price rejects 128.000
4. Rising wedge chart pattern
5. Double top & bearish engulfing pattern are all found just below the daily/weekly trendline resistance level
Risk Management
Risk/Reward Trade 1 - 1:1.70
Risk/Reward Trade 2 - 1:2.96
Stop Zone (trade 1 & 2) - 128.380 (just above 31st of march high)
Target 1 - 125.500
Target 2 - 124.100
Note: Price could pull back 127.600 before continuing lower, trade with caution.
Agree/Disagree? Comment Below!
코멘트:
Trade 1, Target 1 reached.
코멘트:
Trade 2, Move stop to break even.
코멘트:
Trade 2, Stop Moved to 126.750
코멘트:
Trade 2, Stop Moved to 125.780
코멘트:
Trade 2: Further downside expected over the next week, T/P moved to next level 123.400
코멘트:
Trade 2: Target Reached. Trade closed.