TCT trade waiting for a pulback in to resistance
TCT trade waiting for a pullback in to resistance
These trade ideas are always quite difficult to explain in detail on here but I thought I would share with you anyway.
As this pair has come down to what I call a "decision point", we can see that market has put in a lower low, lower close candle which to me signifies further bearish movement.
Now as I don't trade falling wedge breakouts, descending triangles, flags, pennants etc. I will need to wait for a pull back into previous structure support which should provide a decent area od resistance and then look to ride this pair down.
We will keep an eye on this pair and hopefully get an entry reason.
These trade ideas are always quite difficult to explain in detail on here but I thought I would share with you anyway.
As this pair has come down to what I call a "decision point", we can see that market has put in a lower low, lower close candle which to me signifies further bearish movement.
Now as I don't trade falling wedge breakouts, descending triangles, flags, pennants etc. I will need to wait for a pull back into previous structure support which should provide a decent area od resistance and then look to ride this pair down.
We will keep an eye on this pair and hopefully get an entry reason.
