A few days ago, I developed bearish setups on the index, and my setup was closed on break-even, which means that the price moved in my expected direction, and I decided to protect my setup by moving my stop loss to the entry-level. After the reversals we observed on Thursday and Friday, the price reached my entry level, and the setup was closed on 0
From here, this is what I'm planning in terms of bullish opportunities:
First of all, I will avoid trading below the current descending trendline.
Second, I want to observe a clear breakout of the current trend, and I will wait for a correction before new setups.
As you can see in this picture, after we have strong bearish movements, there is a consistent trading opportunity happening after the breakout of the trendlines, where we tend to observe small daily corrections. From there, I will work on new setups towards the following resistance levels. In the meantime, I will keep waiting.
Feel free to share your view and charts in the comments!
*The information and publications on this post are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. This is for educational purposes only.
From here, this is what I'm planning in terms of bullish opportunities:
First of all, I will avoid trading below the current descending trendline.
Second, I want to observe a clear breakout of the current trend, and I will wait for a correction before new setups.
As you can see in this picture, after we have strong bearish movements, there is a consistent trading opportunity happening after the breakout of the trendlines, where we tend to observe small daily corrections. From there, I will work on new setups towards the following resistance levels. In the meantime, I will keep waiting.
Feel free to share your view and charts in the comments!
*The information and publications on this post are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. This is for educational purposes only.
I forgot to add the link to related ideas. This was the previous bearish setup, in case you are interested in taking a look at it.