D1 - Short/Sell trade opportunity for 4,820 points in profits...
Hi guys!
I got an opportunity to short/sell this market for a potential profit of 4,820 points on both Target points (TP 1 & 2). Currently waiting for confirmation for a conservative entry with a very good risk:reward ratio probably like a short TRS on the LTF or a short CRT (in this or lower TF) or a S/R (TL) basic principle (in this TF) or a bearish setup (reversal APF) on the LTF. As market already completed a valid and potential bearish Cypher pattern 78.6% XC retracement at 0.89558 since June 18 giving us an initial reaction of 70+ pips (700+ points) of a pullback (since then) for 2 days with a visible and still a valid (bearish) divergence up to date as market keeps creating new higher highs while opposite (lower highs) on the RSI since the 22nd of May.
Could there be an opportunity to short/sell in this market? We will see. Good luck and happy trading!
Abbreviations / Keywords:
LTF - Lower Time Frame
HTF - Higher Time Frame
TF - Time Frame
TRS - Trend Reversal Strategy
CRT - Counter-Retail Technique / Break-out
APF - Advance Pattern Formation
W4C - Waiting for Confirmation
SL - Stop loss
TP - Target Profit
I got an opportunity to short/sell this market for a potential profit of 4,820 points on both Target points (TP 1 & 2). Currently waiting for confirmation for a conservative entry with a very good risk:reward ratio probably like a short TRS on the LTF or a short CRT (in this or lower TF) or a S/R (TL) basic principle (in this TF) or a bearish setup (reversal APF) on the LTF. As market already completed a valid and potential bearish Cypher pattern 78.6% XC retracement at 0.89558 since June 18 giving us an initial reaction of 70+ pips (700+ points) of a pullback (since then) for 2 days with a visible and still a valid (bearish) divergence up to date as market keeps creating new higher highs while opposite (lower highs) on the RSI since the 22nd of May.
Could there be an opportunity to short/sell in this market? We will see. Good luck and happy trading!
Abbreviations / Keywords:
LTF - Lower Time Frame
HTF - Higher Time Frame
TF - Time Frame
TRS - Trend Reversal Strategy
CRT - Counter-Retail Technique / Break-out
APF - Advance Pattern Formation
W4C - Waiting for Confirmation
SL - Stop loss
TP - Target Profit
Comment:
We got this as per the bearish setup (APF) on the H1 TF plus the potential and valid divergence.
Comment:
On the M15 TF.
Comment:
Watch out closely as we have an upcoming event later tonight!
