This is one of my favorite types of setups.
We've had a kumo breakout and broken a major price structure level.
Typically when this happens we get a re-test of that level before falling further.
That's exactly what we're looking for here.
I want to see a drawback and rejection at that level with a bearish trend continuation move.
If we don't get the move all the way back up we can also look for a move below our current candle as an alternative sell stop style entry.
If we fail to play out either of those scenarios, this setup may become invalidated.
We've had a kumo breakout and broken a major price structure level.
Typically when this happens we get a re-test of that level before falling further.
That's exactly what we're looking for here.
I want to see a drawback and rejection at that level with a bearish trend continuation move.
If we don't get the move all the way back up we can also look for a move below our current candle as an alternative sell stop style entry.
If we fail to play out either of those scenarios, this setup may become invalidated.
評論:
We didn't get the initial rejection we were looking for but we did get move back down and through our entry zone, I closed this in profit before the end of the week