* SMA 200 dynamic resistance and supply zone confluence detected * Price entered the resistance confluence zone and touch both the supply zone and SMA 200 before reversing. * Price reversed failing to make a successful bullish breakout of the zone and SMA 200 {i.e. we didn't print any candle that its complete range doesn't touch the confluence} and form a bearish pin bar * ENTRY :- Pending order at the low of the pin bar candle * STOPLOSS :- SL to be set at 2pips above SMA 200 * TARGET :- 2:1 Reward Risk Ratio * TRADE MANAGEMENT :- Move stoploss to breakeven at 150% profit i.e 1.5:1 Reward Risk Ratio
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We will be entering the trade with a SELL STOP at the low of the PIN BAR
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