Today was a decent trade. This morning around 8:30am I notice an ascending triangle was forming meaning it will leave that triangle as bullish.
My confluences for the buy was:
1. Failing to swing lower
2. Imbalance to fill
3. BSL
4. Overall uptrend.
Although I missed the bullish move due to personal reasons, I was able to catch that sell. From my understanding when price leaves the triangle on a heavy bullish trend it will eventually do a retracement. And it goes vise versa. So being as though I missed most of the bullish push, I then waiting for that downtrend. And with that I was able to catch the entire downtrend ending it at 14548.46. This week was a wonderful trading week for me as I was able to pass my phase 1 funded challenge and already half way through my phase 2 challenge!
My confluences for the buy was:
1. Failing to swing lower
2. Imbalance to fill
3. BSL
4. Overall uptrend.
Although I missed the bullish move due to personal reasons, I was able to catch that sell. From my understanding when price leaves the triangle on a heavy bullish trend it will eventually do a retracement. And it goes vise versa. So being as though I missed most of the bullish push, I then waiting for that downtrend. And with that I was able to catch the entire downtrend ending it at 14548.46. This week was a wonderful trading week for me as I was able to pass my phase 1 funded challenge and already half way through my phase 2 challenge!
Note
I also noticed a double bottom within the ascending triangle, as a major confirmation for the heavy uptrend as well.
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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.