This is a trade idea., not financial advice.
On 2021 we had steady climb of 1390 pips (as shown in chart) till Early April., and fall till 23rd April. What interesting about this price action we have higher close on 29rd April compare to 20th April. Maybe a hint for price reversal?
Another reason for short on this Idea was H&S(Head & Shoulder) pattern started to come along (created since Mar & April) where the 23rd April Failed to close higher than 18th Mar hence this trade idea might be valid to short, and it will be a great short if price breaks the neckline (marked on chart with yellow trendline)
What happened when price break the neckline am I late to join the train?
Short answer : Yes
Long answer : Yes., but you still can join the train. keep on eye on the price action +side with any indicators that works for you always consider where to put stop-loss and reward.
As reward : We can aim price to break Mar 2021 low. Safe reward. April 2021 low
Reason that this trade idea might fail :
Base on Monthly Low there is no other low that breaks previous low on previous month since Jan 2021, this might be strong reason to go long instead of hunting for going short.
Good luck and all the best for traders out there. Remember to safe trade
On 2021 we had steady climb of 1390 pips (as shown in chart) till Early April., and fall till 23rd April. What interesting about this price action we have higher close on 29rd April compare to 20th April. Maybe a hint for price reversal?
Another reason for short on this Idea was H&S(Head & Shoulder) pattern started to come along (created since Mar & April) where the 23rd April Failed to close higher than 18th Mar hence this trade idea might be valid to short, and it will be a great short if price breaks the neckline (marked on chart with yellow trendline)
What happened when price break the neckline am I late to join the train?
Short answer : Yes
Long answer : Yes., but you still can join the train. keep on eye on the price action +side with any indicators that works for you always consider where to put stop-loss and reward.
As reward : We can aim price to break Mar 2021 low. Safe reward. April 2021 low
Reason that this trade idea might fail :
Base on Monthly Low there is no other low that breaks previous low on previous month since Jan 2021, this might be strong reason to go long instead of hunting for going short.
Good luck and all the best for traders out there. Remember to safe trade