price is consolidating inside the channel
we have multiple lines it could bounce off since price momentum is weak, the question is which level will it be?
entry to this setup is at lowest possible reversal point for the best r/r. sl 50 pips.
this consolidation does not look like it is ready to go yet. it seems it will need to prove more loss of momentum before buyers get in. turns out there is a 127 ext where i had placed my entry price, that may be a good sign.
if price does not reach my entry and breaks out the triangle, its best to leave the setup alone.
we have multiple lines it could bounce off since price momentum is weak, the question is which level will it be?
entry to this setup is at lowest possible reversal point for the best r/r. sl 50 pips.
this consolidation does not look like it is ready to go yet. it seems it will need to prove more loss of momentum before buyers get in. turns out there is a 127 ext where i had placed my entry price, that may be a good sign.
if price does not reach my entry and breaks out the triangle, its best to leave the setup alone.
David K Giraldo
