Price Action Trading
Daily Bias Bearish.
Price enter into H4 broken support level and rejected from that level after forming a wedge. The price break through the last H1 support and H1 bullish trendline.
This is a sign that price has strong rejection from that H4 new resistance level. H1 resistance is pretty strong.
Set Short trade with SL above swing high. As it is trend following, R:R targeting new swing low with R:R 1:4. Trade management will be in placed after 1:1
Daily Bias Bearish.
Price enter into H4 broken support level and rejected from that level after forming a wedge. The price break through the last H1 support and H1 bullish trendline.
This is a sign that price has strong rejection from that H4 new resistance level. H1 resistance is pretty strong.
Set Short trade with SL above swing high. As it is trend following, R:R targeting new swing low with R:R 1:4. Trade management will be in placed after 1:1