Simple trading analysis based on price action with the help of Renko chart, RSI indicator, and OBV indicator.
Story - The price has broken the UP trend line, and retested that line after creating new lows, so it makes it obvious for us to search for SELL trade opportunities.
SELL Signals
1. Break of the UP trend line 4H chart
2. Retest of the Trend line
3. Rising wedge on 1H chart, which is a reversal pattern.
4. Red bricks on Renko 4H chart are forming
5. OBV Renko chart is down.
Entry 1 - Aggressive entry at the actual market price
SL - At the 1805 level, where the price starts to fall ( supply level)
TP - 4.5RR at 1750 Level
Entry 2 - If the price will break down the wedge trend line
SL - Above the previous high
TP - 3RR at 1750
Don't Stumble Trading. Trade Safe!
Story - The price has broken the UP trend line, and retested that line after creating new lows, so it makes it obvious for us to search for SELL trade opportunities.
SELL Signals
1. Break of the UP trend line 4H chart
2. Retest of the Trend line
3. Rising wedge on 1H chart, which is a reversal pattern.
4. Red bricks on Renko 4H chart are forming
5. OBV Renko chart is down.
Entry 1 - Aggressive entry at the actual market price
SL - At the 1805 level, where the price starts to fall ( supply level)
TP - 4.5RR at 1750 Level
Entry 2 - If the price will break down the wedge trend line
SL - Above the previous high
TP - 3RR at 1750
Don't Stumble Trading. Trade Safe!