SHORT TERM SCALP TRADES
We closed our last scalp trade at about 11% profit (stop hit).
Currently the descending channel is broken. Now new support most likely will be tested a few times, but can it hold? and will it go back to the descending channel.
Currently im not sure nor will i gamble on it. Whales have purchased again driving price up, hence why i have thoughts it may be a fake out.
I can see a inverse head and shoulder forming. I will be waiting for the last shoulder to reach resistance if i see that pattern forming i will enter at a long position.
Like i usually do with all my small scalp trades i will keep adjusting stop above my entry price to allocate 0 loss.
If we can surpass the 9580 area we can see rejection at the 9715 area.
If you do enter trades just keep taking profits, dont risk going into negative position to "hope" it will go back up.
Play with the market, dont let it play you.
Not financial advice.
We closed our last scalp trade at about 11% profit (stop hit).
Currently the descending channel is broken. Now new support most likely will be tested a few times, but can it hold? and will it go back to the descending channel.
Currently im not sure nor will i gamble on it. Whales have purchased again driving price up, hence why i have thoughts it may be a fake out.
I can see a inverse head and shoulder forming. I will be waiting for the last shoulder to reach resistance if i see that pattern forming i will enter at a long position.
Like i usually do with all my small scalp trades i will keep adjusting stop above my entry price to allocate 0 loss.
If we can surpass the 9580 area we can see rejection at the 9715 area.
If you do enter trades just keep taking profits, dont risk going into negative position to "hope" it will go back up.
Play with the market, dont let it play you.
Not financial advice.
Whales can possibly create domino effect causing this pattern to be invalid.