the area circled in blue was a very obvious distribution phase. price was creeping upwards but with subsequently lower volumes.
there was about 4 hours for us to get into short and the risk to reward was very good ! ( about 1 : 3 )
anyway we are definitely looking for more downwards movement. lets wait for some retracement before going in again.
Assuming this this is a good AB = CD pattern, we are looking for another 1000 dollar in movement!
there was about 4 hours for us to get into short and the risk to reward was very good ! ( about 1 : 3 )
anyway we are definitely looking for more downwards movement. lets wait for some retracement before going in again.
Assuming this this is a good AB = CD pattern, we are looking for another 1000 dollar in movement!
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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.