Counter trend trade
Updated
Thesis:
- Trend is down, 20MA below 50MA.
- Double bottom form.
Idea for counter trend trade:
- pin bar formed at double bottom.
- Wait for price to exceed pin par high (21USD)
then can have a buy trade with stoploss at below previous pin bar low (19.05)
- Target at 27.5 , R/R of 3/1
- Trend is down, 20MA below 50MA.
- Double bottom form.
Idea for counter trend trade:
- pin bar formed at double bottom.
- Wait for price to exceed pin par high (21USD)
then can have a buy trade with stoploss at below previous pin bar low (19.05)
- Target at 27.5 , R/R of 3/1
Order cancelled
Price does not confirm the rebound, and breakdown as donwside continuity.
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