Structure: Downtrend
Moving Average: 15 EMA Death Cross 50 SMA, possibly test 200 SMA
Trendline: Going to test Daily TF Uptrend Line Support
Pattern: Double Top / Triple Top
Trigger: Multiple Attempts fail to break 123, Bearish Reversal candles formed
Resistance: 122.30, 122.70
Support: 121, 120.17
Wait 1H Reversal Candle to go short, expect a minimal correction to 200 SMA
Entry Area: 122.20 - 122.40
SL: 123
1st Target: 121.20
2nd Target: 120.20
Moving Average: 15 EMA Death Cross 50 SMA, possibly test 200 SMA
Trendline: Going to test Daily TF Uptrend Line Support
Pattern: Double Top / Triple Top
Trigger: Multiple Attempts fail to break 123, Bearish Reversal candles formed
Resistance: 122.30, 122.70
Support: 121, 120.17
Wait 1H Reversal Candle to go short, expect a minimal correction to 200 SMA
Entry Area: 122.20 - 122.40
SL: 123
1st Target: 121.20
2nd Target: 120.20
Transaction en cours:
Since the entry price is quite good,
we can move SL to Breakeven and enjoy the risk-free run.
we can move SL to Breakeven and enjoy the risk-free run.