We are going to jump on the bearish momentum we had last week and bet on its continuation. The next level that might attract price is the monthly tenkan zone (yellow zone),so that is our take profit zone. The trade is executed on the daily because the daily ssb is a very good resistance layer that will give us a place to hide our stop loss. We already saw Friday's daily candle trying to penetrate it to no avail,so that is good confluence for our bearish hypothesis.
Entry: 115.146
SL : 115. 725 ( just above the 2 Daily SSBs)
TP : 113.325
RR : 3.32
NB: Risk management is the trick,manage your position sizes and you live to trade another day!
Entry: 115.146
SL : 115. 725 ( just above the 2 Daily SSBs)
TP : 113.325
RR : 3.32
NB: Risk management is the trick,manage your position sizes and you live to trade another day!
