Disliked{quote} Hi, On H1, the possible entry candle will be the candle i circled. It closed below ytd high and close price. Moreover, that is the area which historical price comes to play from 2009. This setup in line with the TDI Green crossed the red and the MBL from the 68 region. In the TDI, the contraction of the blue band means the market is in the consolidation stage, now the band has widen can possibly means there is room for the short trade. On the 4H chart, entry on the first red candle and in line with the TDI as green crosses the red and MBL...Ignored
Good post.
Overall, we know this is countertrend trading seeing the previous week bullish rally. We do not know how deep the retracement would be therefore any sell trade need to be closely managed bearing in mind the London open hour and also one hour after LO is Tokyo close. This is crucial to observe the PA to see if or when EJ will make a low of the day and look for the CONTINUATION trade setup when this shows up in our charts.
Trade Well.
regards,
EMMANUEL
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