tntsunrise
Short

AUDUSD LIBRA PATTERN in 30 mins

FX:AUDUSD   Australian Dollar / U.S. Dollar
6759 26 74
Last trade was stopped out 0.7255

Now i saw a Libra Pattern with fib 0.786

Re-enter the short, Very tight stop loss
Above 0.7340

TP1: 0.7283
TP2: 0.7245
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Based on Market Profile (volumes) and Price Action there is very strong swing support at 0.7246. There was about 2 week rotation where the big players accumulated their long trades and then moved the price agressively higher. You Can see this strong trading activity even on yearly volume profile!
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis:
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already stop loss before you gain profit
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cong.
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So, you shorted in a wide bull channel going on since the 3rd of Jan assuming that the last decline would lead to a TR and possibly to a reversal
You did not use any signal to enter as you shorted on a huge bull spike on the very bar that closed above the previous 2 bars. That was a breakout gap. A sign of strength.

The last decline was indeed remarkable but it did not break any of the bottoms, so it was not likely to form a lower high now.
While a trading range was possible -- if you wanted to fade the move -- up you should have faded above the extreme top, not below it.
And you should have used wide stops and be prepared to scale in and exit at BE on your first entry should the move continue too far beyond your first entry,

Also your second profit target looks extremely unrealistic to me. While the 1st TP was achievable, if mkt got there it would have very likely formed a big bull flag and tested the extreme high again.
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im abit trauma when see a libra pattern analysis
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I would love if you had some trades you pick for Nadex binary contracts.
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WRONG !!!
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Jack can u have a look on oil
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its weird that the dollar couldn't recover not even a bit , all currency pairs breakout of there patterns :S
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Looking to sell too. But waiting for reversal candle.
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