We are in a wedge on the daily. During the last bounce off resistance there has been a retrace and posted a bearish bar with tall wicks. The wicks showing downside pressure.
TP has been set at 50% retrace of the previous swing with a 2R profit.
Disclaimer
Answer42 is not responsible for any losses incurred as a result of following trading signals mentioned and cannot be held accountable for any direct / indirect damages as a result of following the trading recommendations. All trading recommendations are based on hypothetical probabilities and there is no guarantee of results. Traders are advised to carefully evaluate the trading signals, manage risks and trade according to their own judgement.
TP has been set at 50% retrace of the previous swing with a 2R profit.
Disclaimer
Answer42 is not responsible for any losses incurred as a result of following trading signals mentioned and cannot be held accountable for any direct / indirect damages as a result of following the trading recommendations. All trading recommendations are based on hypothetical probabilities and there is no guarantee of results. Traders are advised to carefully evaluate the trading signals, manage risks and trade according to their own judgement.