Price is at the upper bound of the up channel now.
Even though if we were to short here, it would be contrarian since price is in an up trend, but as we zoom down to the 4H time frame, we can see that on previous price rejections on the upper bound of the up channel, price made M shape or triple tops, and then the price collapsed back down.
This time round, price has also made similar rejection patterns and now the price is at a good location for shorting opportunities.
I might not be entering on this pair because I want to give myself some space and time to breath, since I broke even on my second set of trading data (4th trade).
Shall see. I need to give myself time, really.
Good to skip trades that are profitable in hindsight, because we never get hindsight on foresight trading.
0352SGT 23032025
I think I might be good at spotting patterns, but I must be careful not to think that I am very good at it, because if I think I could do better and I try to do alot more to prove it, I will go down the slippery slope of losing trades again, even when I am obviously going to be a profitable trader in the long run.(and I will lose in the long run because I alter my trading rules and conditions, and I enter on the dragons tail instead, and get whipped by the dragon that flick its tail.)
0354SGT 23032025
Even though if we were to short here, it would be contrarian since price is in an up trend, but as we zoom down to the 4H time frame, we can see that on previous price rejections on the upper bound of the up channel, price made M shape or triple tops, and then the price collapsed back down.
This time round, price has also made similar rejection patterns and now the price is at a good location for shorting opportunities.
I might not be entering on this pair because I want to give myself some space and time to breath, since I broke even on my second set of trading data (4th trade).
Shall see. I need to give myself time, really.
Good to skip trades that are profitable in hindsight, because we never get hindsight on foresight trading.
0352SGT 23032025
I think I might be good at spotting patterns, but I must be careful not to think that I am very good at it, because if I think I could do better and I try to do alot more to prove it, I will go down the slippery slope of losing trades again, even when I am obviously going to be a profitable trader in the long run.(and I will lose in the long run because I alter my trading rules and conditions, and I enter on the dragons tail instead, and get whipped by the dragon that flick its tail.)
0354SGT 23032025
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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.