Price broke just above the triple top area within an ascending structure, potentially to catch the masses on the wrong side of the market before a drop to previous lows. Entered a short after a bearish engulfing close on the hourly with my stop just above the previous high. Stop will first be moved to breakeven once a continuation flag to the downside is formed, and then trailed accordingly to lock in profits if price is to reverse to the upside.
Trade closed: stop reached
SL hit, -1%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.