Check out the simple DOUBLE TOP (M) pattern forming on the 4hr chart in confluence with a bigger daily double top (second top) and monthly supply. I'm looking to trade that break and retest of that 4hr M neckline. Check out the linked Trade Idea for a bigger overview of this trade and long term price projection.
Note
Trade is not yet active but still valid. Ended up being a kind of a triple top turtle soup, just short the breakout & retest of 113.78. Now remember, for it to be a valid break out the first 4hr breakout candle needs to close under 113.78. The 4hr retest candle needs to throw a wick up to the 113.78 but close under it!!!! Once that happens, that’s your entry!!! Until then.... stay away from this trade! Educational purposes only, traDe at your own risk! I am not your financial advisor.Trade active
Price broke that zone is was waiting for and it’s trading under it after a beautiful retest. I would say wait for the 4hr candle like before to close under but I doubt now that it will come back up. It is your choice, trade @ your own risk, I am in profit.Trade active
Up 100 pips from entry.Set SL/SP @113.30.
We might get a retrace to 113.07 opening next week.
Trade closed: target reached
TP HIT ONCE AGAIN.
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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.
Related publications
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.