Bearish Wolfe Waves forming inside an ascending wedge.
I would wait for price to break the upper Value Area of the volume profile of the current trading range to confirm short entry .
RSI but looks ready for a little move to the downside. Golden pocket on the fib marked as well.
Will trigger myself a high leverage short taking targets first at the golden pocket, then according to reaction on POC and VAL of the volume profile I will decide wether to book more profits / close position or not. An ideal solution would be a sweep of the low.
Triangle fakeout / fake breakout could add confluence:
Trade safe and use adequate position sizing.
I would wait for price to break the upper Value Area of the volume profile of the current trading range to confirm short entry .
RSI but looks ready for a little move to the downside. Golden pocket on the fib marked as well.
Will trigger myself a high leverage short taking targets first at the golden pocket, then according to reaction on POC and VAL of the volume profile I will decide wether to book more profits / close position or not. An ideal solution would be a sweep of the low.
Triangle fakeout / fake breakout could add confluence:
Trade safe and use adequate position sizing.
Trade active:
What I had to say about RSI was put in square brackets so it is not showing for some reason. I only mentioned its ineffectiveness on such small time frames but extra confluence isn't bad when you can see a clear -yet ephemeral- bearish divergence.
Trade active:
Booked profits at VAL and trailed my stop. Risk free.
Trade closed: target reached:
Trade closed almost at the golden pocket.
