On 1D timeframe we are in a downtrend.
We saw a breakout of a major support zone. Now this zone was retested and also there is formed a pin bar (in white). On lower time frame (4H/1H) the retest is in the form of flag pattern and we can see that the trend line is broken.
This provides us with very good R/R ratio - 4.
TP is the next support line that has been tested a couple of times in the past
We saw a breakout of a major support zone. Now this zone was retested and also there is formed a pin bar (in white). On lower time frame (4H/1H) the retest is in the form of flag pattern and we can see that the trend line is broken.
This provides us with very good R/R ratio - 4.
TP is the next support line that has been tested a couple of times in the past