Sell stop within a channel. If price turns around on my channel line and activates sell stop I expect it to hit or go near my take profit, to where pips can be secured regardless.
Price broke above support in downtrend. Expecting it to head back toward resistance trendline, the same way it has been.
Using an old Harmonic Scan that I realize is pretty accurate from yesterday's trade, if stop loss was slightly higher I would've hit t/p yesterday. So I'm trusting the accuracy of the scan.
Reacted toward one of my pitchfork lines from an old scan from November. Don't know if I should update scan because price still reacts from it a lot.
Also looks to be headed toward quarter theory line.
Took trade from Harmonic Scanner. TP3 was higher than orange quarter theory line, so I changed it to exactly where quarter theory line is.
Since it bounced off quarter theory, I do anticipate upward movement, stop loss is safe in theory as well. Low risk, high reward
Looking to catch price at the spot it's been going on the same hour daily
Speech didn't affect much price recently, so I'm feeling good about this one.
price is either in a pullback or a downtrend
if it's in a pullback I can win one to 2 buy trades
if it's in a downtrend and continues, I will cancel my trades as long as I catch it in time.
(2nd trade is not an actual trade, just an idea)
Going back to basics. Looking for price to hit entry after pullback is done taking place, and continuing in an uptrend. s/l below quarter theory so it shouldn't hit
Was already looking at this for a possible trade set up. Checked harmonic scanner and saw the same patterns, so I took the trade but set my own points up. Used my own resistance line as well as a quarter theory level and one half quarter level. S/l is same as my t/p basically, but it doesn't look to head below that support.
