Breakout or double top and reversal?.
Updated
Technicals point to a top forming but I am in this trade hoping for a breakout but knowing that it probably wont happen.
Comment
I closed my long position on this trade for a small gain, and ready to go long or short whichever way price action goes.Comment
I opened another small long trade, see what happens.Comment
This trade isn`t a typical breakout, be wary of a sharp reversal.Comment
The ks is now pointing up and we are building some momentum.Comment
Daily chart gives me hope that price may go above 1.70000 level.Comment
I dont use a stop loss most times, this time it probably saved me although price fell to the ma21 and my stop would normally be below it.Comment
This has been a good trade but I would recommend looking at taking some profits and exiting the trade on the next good candle if not before.I guess there is still some more upside but it is looking less solid right now overall.
Comment
If this candle becomes a reverse pinbar its time to look for shorting opportunites.Disclaimer
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