Simple trade based on EW count and S/R structure
My EW count shows that the wave 5 on the 4h is near completion (nice ending diagonal forming) at an important resistance level (which shows nicely on the daily chart). I will look to short this pair according the ROE presented on the chart, looking for previous resistance levels for target 1 & 2.
SL is shallow, because an other important structure level is right above and there is a chance for the PA to be attracted to that one. So if I will be stopped out I will look to reenter at a higher level.
THIS IS A RISKY TRADE, SO BE CAREFUL AND HAVE A GOOD MM AND TRADE MANAGEMENT ONCE YOU'RE IN THIS!!!
SL is shallow, because an other important structure level is right above and there is a chance for the PA to be attracted to that one. So if I will be stopped out I will look to reenter at a higher level.
THIS IS A RISKY TRADE, SO BE CAREFUL AND HAVE A GOOD MM AND TRADE MANAGEMENT ONCE YOU'RE IN THIS!!!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.