HTFs - the weekly structure shows a clear sideways channel with major highs broken and signs of a bearish reversal to downside. Now forming a continuation structure with a slight descending angle. Price action pretty clean with identifiable patterns |
LTFs - the angle is descending suggesting upside, but that's only part of the story. The structure is clear and there is a clue in the ascending running channel forming at the end of the pattern. Note, this also has a clear middle section increasing reliability of the pattern |
ENTRY - if price breaks that mini high correctively and rejects at the top of the running channel/larger descending structure, I'll be aggressive with my entry. If price is impulsive on approach to edge of structure or breaks structure, I'll wait for the market to show a signal it's turning bearish
LTFs - the angle is descending suggesting upside, but that's only part of the story. The structure is clear and there is a clue in the ascending running channel forming at the end of the pattern. Note, this also has a clear middle section increasing reliability of the pattern |
ENTRY - if price breaks that mini high correctively and rejects at the top of the running channel/larger descending structure, I'll be aggressive with my entry. If price is impulsive on approach to edge of structure or breaks structure, I'll wait for the market to show a signal it's turning bearish
Note
Trade active
Stayed up through the night to monitor and enter this one. Planned trade, traded planNote
Scoping first scale inTrade closed: stop reached
Trailing stop hit for +1.15%. Didn't drop as thought it might but pleased with planning and exectuion
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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.