Currently waiting on a confirmationsignal to short this shark. We either have the Butterfly completionpoint above or the break of structure below to go short.
What will the market do?
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on the 1m the levels are a bit more clear.
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the butterfly to the upside isnt clearn enough anymore. so i wont use it as an entry. im still watching the lower structure and the trendline tho
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my way into this trade will look like this im selling either way. stops above the highs of the consolidation so 5310ish
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didnt get filled on top by 1 or 2 ticks so im trading the breakout to the upside. to compensate for that i decided to run with a stop above the flag pattern
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breakout to the dowside****
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TG1 hit for roughly 2:1. stops BE and waiting for TG2(618 retracement of the shark)
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we are currently forming a flagpattern really in the middle of nowhere, so i dont see any reason why the market shouldnt go further down from here. since im already breakeven im looking to add to this position if we can break the flag.
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entry didnt happen and signal terminated by a momentum spike to the upside. i will be looking for a bigger ABCD to maybe go short again, but for now nothing. stops for TG2 are still at BE