Pattern Identification Price went up to 1.5150 late last week to complete the bearish Bat pattern. It also formed a rising wedge (reversal) pattern and broke below
RSI forming a bearish divergence
Trade execution Took a short trade after price went below the lows at 1.4953. Stops are still currently above the 1.50 mark at 1.5030 Potential to move to 1.4600
Сделка активна
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Price could potentially form this bearish Shark. If this happens, then it can retrace up to the 1.5100/20 levels
I am tightening the SL to above the arrow. Probably at 1.4992 (above the resistance TL)
Сделка закрыта: достигнута стоп-лосс цена
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Price hit my protective stop loss and took me out of the trade at 1.4928. Profit of only 15 pips.
I am looking to re-enter this trade with a target of 1.4600
Комментарий
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Price now at past support turned resistance ?? Hopefully price can be resisted by the 20MA H4 (middle of the BBand)