This trade here was a 4:1 trade idea we had.
Today is Thursday and we saw the market trade higher and take BSL. On the Daily chart we see a major Bearish Engulfing candle, we also had the blue are which is a previous bearish OB that was used as support previously and then was broken -- I then expected this area to be used as resistance.
We then saw the Breaker block created within this Blue OB area which conveniently enough was also near/within the Daily Gap high and Low.
Taking the fib from high to low we entered at exactly 0.618 for the sell after the 3 candle confirmation.
Today is Thursday and we saw the market trade higher and take BSL. On the Daily chart we see a major Bearish Engulfing candle, we also had the blue are which is a previous bearish OB that was used as support previously and then was broken -- I then expected this area to be used as resistance.
We then saw the Breaker block created within this Blue OB area which conveniently enough was also near/within the Daily Gap high and Low.
Taking the fib from high to low we entered at exactly 0.618 for the sell after the 3 candle confirmation.
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