Simple trade based on EW count and S/R structure
My EW count shows that the wave 5 on the 4h is near completion (nice ending diagonal forming) at an important resistance level (which shows nicely on the daily chart). I will look to short this pair according the ROE presented on the chart, looking for previous resistance levels for target 1 & 2.
SL is shallow, because an other important structure level is right above and there is a chance for the PA to be attracted to that one. So if I will be stopped out I will look to reenter at a higher level.
THIS IS A RISKY TRADE, SO BE CAREFUL AND HAVE A GOOD MM AND TRADE MANAGEMENT ONCE YOU'RE IN THIS!!!
SL is shallow, because an other important structure level is right above and there is a chance for the PA to be attracted to that one. So if I will be stopped out I will look to reenter at a higher level.
THIS IS A RISKY TRADE, SO BE CAREFUL AND HAVE A GOOD MM AND TRADE MANAGEMENT ONCE YOU'RE IN THIS!!!
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