Building Momentum
Price back to a zone of resistance creating a double top after almost reaching my target. Partials were taken and still left the trade to run.
On moving closer to the area of resistance, it created another short opportunity which I took aggressively with same stops as the my first entry.
Seeing that double top indicated to me that price is gathering momentum to the down side. That gave me more confluence hold short.
Also, double top in a down trend indicates a continuation to the downside.
I'm still very bearish.
On moving closer to the area of resistance, it created another short opportunity which I took aggressively with same stops as the my first entry.
Seeing that double top indicated to me that price is gathering momentum to the down side. That gave me more confluence hold short.
Also, double top in a down trend indicates a continuation to the downside.
I'm still very bearish.
Related publications
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.