Short term bearish pattern identification
Entering a short under 8130 doesn't look ideal to me, but it already dropped before I could finish this...
The bit about lower volume on a higher high after a range break is what I look at to indicate top. It is a bluff by the 'market makers' to thin out the orderbooks and allow the price to float up without pressure, or simply shift the orders higher, to catch stops right above what was assumed to be the high.
Ranges are different on every timeframe and ideally one adjusts position size according to the size of the range and avail. portfolio to burn
The bit about lower volume on a higher high after a range break is what I look at to indicate top. It is a bluff by the 'market makers' to thin out the orderbooks and allow the price to float up without pressure, or simply shift the orders higher, to catch stops right above what was assumed to be the high.
Ranges are different on every timeframe and ideally one adjusts position size according to the size of the range and avail. portfolio to burn
Note
Blue line denotes where TradingView posted an article on the Iranian missile strikes: dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/01/08/Crude-Oil-and-Gold-Prices-Surge-as-Iran-Retaliates-Eyes-on-Trump.html
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Disclaimer
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.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Disclaimer
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.