You can clearly see a head & shoulders pattern on the h4 or daily timeframe.
I am now waiting for a double top on the h1 or a fakout on h4.
Wait for price action. Do not enter the trade immediately!
Other confirmations to sell:
I set TP1 & TP2 based on fibonacci.
I will risk 1% for this trade.
After the trade is 40 pips in profit, i will move sl to entry.
I will close 70% of my trade on tp1 & move my sl lower to a point where i think the trade will be invalid.
Let me know your view in the comments.
Join our community. Link in bio.
I am now waiting for a double top on the h1 or a fakout on h4.
Wait for price action. Do not enter the trade immediately!
Other confirmations to sell:
- Price broke supply -> now demand
- lower low created -> waiting now for lower high
I set TP1 & TP2 based on fibonacci.
I will risk 1% for this trade.
After the trade is 40 pips in profit, i will move sl to entry.
I will close 70% of my trade on tp1 & move my sl lower to a point where i think the trade will be invalid.
Let me know your view in the comments.
Join our community. Link in bio.
Note
correction: price broke demand -> now supply
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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.