Great trade set-up!! Risk 10 pips to potentially make 100 pips!!
Potential double top formation Sell limit order @0.23300 Stop Loss @ 0.23500 Take Profit @ 0.20500
Overall trend is bearish (creating higher lows + lower lows) Catching the pullbacks @ areas of confluence (price reversal zones) Market pulled back to the 100% on fibs, made a double top pattern formation adding another confirmation to the bearish trend Price is struggling to break the $7,000 zone and once broken, our next zone is $6,700
Double Top Confirmed // Placed stops above the highest high of the double top .... Lets see how this plays out
BITCOIN - SHORT - Double Top Pattern Had a buy limit order at this price and it is now activated still early enough to enter, USE RISK MANAGEMENT
resistance being maintained at this prz
risking only 9 pips to make over 100 pips
POTENTIAL REWARD OF 23 PIPS :D CLOSE HALF AT THIS POSITION AND LEAVE A RUNNER FOR @108.400
Buy Limit Order Activated Set-up = Double Top Pattern
Trading session? = Pre-London Analysis Type of Entry? = Double Bottom Buy Limit RRR? = 1:5, possible 1:8 S/L = 11 pips Possible minor T/P? = Yes @ 1.29260 Check 4HR + Daily for trend direction? = Yes, overall bullish Reviewed notes? = Yes
Trading session? = London Type of Entry? = Bullish Engulfing RRR? = 1:3 S/L = 23 pips Possible minor T/P? = Yes @ 1.29260 Check 4HR + Daily for trend direction? = Yes, bullish Reviewed notes? = Yes
Double Bottom Pattern Formation Entry @ 1.64409 S/L = 1.64286 (12 pips) T/P = 1.65522 (111 pips)
Looking for a Double Top pattern formation Placing a Sell Limit @ 1.24031 S/L = Above the highest high __________________________________________ Placing our T/P @ 1.22843 If this gets hit, we will close half our position + move S/L to B.E. (leaving a runner)