1). Consolidation Breakout: Waiting for a period of consolidation to end before considering a trade. This implies looking for a period of price stability or range-bound movement before a breakout occurs.
2). Breakout Confirmation: I have been monitoring price movements on a 4-hour timeframe and observing if the price breaks and closes below a horizontal structure, which it did now indicating potential bearish momentum.
3). Price Target: Anticipating that the price will continue downward towards a specific support level, in this case, 1.76000.
By combining these criteria, you're likely aiming to enter a short position with the expectation that the price will decline towards the identified support level. Good Luck Traders 👍
2). Breakout Confirmation: I have been monitoring price movements on a 4-hour timeframe and observing if the price breaks and closes below a horizontal structure, which it did now indicating potential bearish momentum.
3). Price Target: Anticipating that the price will continue downward towards a specific support level, in this case, 1.76000.
By combining these criteria, you're likely aiming to enter a short position with the expectation that the price will decline towards the identified support level. Good Luck Traders 👍