Failed break out of a descending channel. Favoring the downtrend to continue.
There is a head and shoulders forming that I intend to short. Will wait for price to confirm before entering.
Profit target is a Fib cluster just below. Stops above the right shoulder after entry.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
There is a head and shoulders forming that I intend to short. Will wait for price to confirm before entering.
Profit target is a Fib cluster just below. Stops above the right shoulder after entry.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active:
Triggered while posting. In position, place stops above right shoulder and set target.
Now forget it and wait.
Now forget it and wait.
Trade active:
Looking good so far. Good idea to reduce risk (e g half stop loss or move to BE)
Trade closed manually:
Out for break-even
Comment:
Second chance draw?
