Good morning Traders
Waiting paid off in the end as the my buy order got filled in the Asian session. Even if it looks that bullish structure has been broken at first sight I am confident that it is just a fake-out, potentially turning into a small inverted head and shoulders pattern.
At this point there is also the possibility to open another buy position with a RR of 1:2 (as shown in the chart). What we need is a clear hourly break above the resistance area and buy on the possible re-test. Same as before, if price hits 1R profit the stop loss goes to break even.
Let me know what you think in the comments below! Good luck.
Waiting paid off in the end as the my buy order got filled in the Asian session. Even if it looks that bullish structure has been broken at first sight I am confident that it is just a fake-out, potentially turning into a small inverted head and shoulders pattern.
At this point there is also the possibility to open another buy position with a RR of 1:2 (as shown in the chart). What we need is a clear hourly break above the resistance area and buy on the possible re-test. Same as before, if price hits 1R profit the stop loss goes to break even.
Let me know what you think in the comments below! Good luck.
