Since July 18th of this year we've seen price drop. Its be a steady and at time sporadic drop. We're currently at the tipping point of a symmetrical triangle. Somethings gotta give. Based on the HTF I am anticipating a move to the downside, however in order to mitigate risk instead of taking sells now, I am putting a pending order below the triangle. Expect price to break down, and stop loss is at the top of the trend line heading down, if price triggers my pending order, it might retest but not likely to my SL.
All trades are done purely through price action and trendlines. Sometimes I used the MACD to spot divergent reversals for added layers of confirmation.
All trades are done purely through price action and trendlines. Sometimes I used the MACD to spot divergent reversals for added layers of confirmation.
Comment:
Closed trade at break even