This is a longer term swing trade that I am currently looking at.
Price structure looks good and all signs look bearish, there are two ways to enter this trade.
The more ideal of the two is how I've drawn it on the chart here with a drawback and resistance holding to push further down.
The second way is to take a trade with a break below our current candle low. Taking the second style of entry lessens our risk to reward ratio but we still have plenty to give with the length of this setup so it will come down to personal preference.
If we fail to maintain our bearish confirmations or if we get a major drawback past the resistance we're using for this setup, it may become invalidated.
Price structure looks good and all signs look bearish, there are two ways to enter this trade.
The more ideal of the two is how I've drawn it on the chart here with a drawback and resistance holding to push further down.
The second way is to take a trade with a break below our current candle low. Taking the second style of entry lessens our risk to reward ratio but we still have plenty to give with the length of this setup so it will come down to personal preference.
If we fail to maintain our bearish confirmations or if we get a major drawback past the resistance we're using for this setup, it may become invalidated.