DislikedI am looking at this trade on EUR/GBP short on a BEOB at a swing high. Orders are in. If the order doesn't trigger on the current bar I may cancel. Profit targets will remain fluid. Will likely use trailing stops to exit.Ignored
You really need to be careful with that one. Not much space, in the given context the bar itself is not that sizable. Expect choppiness and may take a while to reach your target.
Pros: Coming off Weekly HCR (very strong resistance), divergance
Other things we look for include: BRN, trading straight into traffic, bar size, no room to FTA etc.
These are just my thoughts......and it may still workout but not much confluence