Here is an update on our short swing, great trade !!!! HOWEVER, I missed the entry as I was not on the charts for 2 days.
It pays to PAY ATTENTION TO YOUR CRAFT.
I used the BAR replay to break down the trade where I would have liked to enter.
D - Price has created a new LH on the Daily, Rejecting the original Daily trendline area of 168.18/167.70 from our original analysis; then creating and filling the wick rejection, also commonly known as a "wick fill".
4H - Looking to the left, you will notice an ellipse which is a 1H consolidation zone of 167/167.26, which would have given me extra confluence as we saw a strong BEARISH ENGULFING PATTERN, which would have been .... EXTRA CONFLUENCE !!
1H - Here is where I used the consolidation zone I spotted to the left, I would have paid attention to this.
The smaller Trendline inside the consolidation; here is where I would have waited for a break of this correction and had gotten my entry, with a clean close outside of the consolidation zone and opening my position at the 167.26/167.00 area
-Price created new D LH.
-Price rejected D TL
-1H Break of L TF correction & consolidation
-Price closed below D FIB Lvl
It pays to PAY ATTENTION TO YOUR CRAFT.
I used the BAR replay to break down the trade where I would have liked to enter.
D - Price has created a new LH on the Daily, Rejecting the original Daily trendline area of 168.18/167.70 from our original analysis; then creating and filling the wick rejection, also commonly known as a "wick fill".
4H - Looking to the left, you will notice an ellipse which is a 1H consolidation zone of 167/167.26, which would have given me extra confluence as we saw a strong BEARISH ENGULFING PATTERN, which would have been .... EXTRA CONFLUENCE !!
1H - Here is where I used the consolidation zone I spotted to the left, I would have paid attention to this.
The smaller Trendline inside the consolidation; here is where I would have waited for a break of this correction and had gotten my entry, with a clean close outside of the consolidation zone and opening my position at the 167.26/167.00 area
-Price created new D LH.
-Price rejected D TL
-1H Break of L TF correction & consolidation
-Price closed below D FIB Lvl
Note
Played out perfectly.Follow me for more set ups
Happy trading
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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.
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.