Price is in line with the daily structure
The nature of the price as it is approaching the double top is quiet corrective.
Price has also formed Pattern - within- pattern and this adds more confirmation to my trade setup of going short.
There are 2 scenarios here.
Probable - price can reject at the double top and go short.
Possible - Price can go higher at touch the top TL before the drop.
Keeping myself neutral in the market and take message from what the market tells me.
The nature of the price as it is approaching the double top is quiet corrective.
Price has also formed Pattern - within- pattern and this adds more confirmation to my trade setup of going short.
There are 2 scenarios here.
Probable - price can reject at the double top and go short.
Possible - Price can go higher at touch the top TL before the drop.
Keeping myself neutral in the market and take message from what the market tells me.
Trade closed: stop reached:
Got stopped out with a spike that happened.
There is no change in the structure so far.
Hence will continue to look for short setups.
Next plan is published on the next idea page
There is no change in the structure so far.
Hence will continue to look for short setups.
Next plan is published on the next idea page
I dont want to take buy order now, even though keeping in mind that sell is the over all market sentiment.
If i get tagged out of the trade, I am happy with the trade and profits are been aggressively locked.
If price happens to retrace back then will wait for it to reach the top of the structure to short again.
This is the difference between Valid Trade VS High probability trade.
Valid trade is a possiblility of a LONG setup and High probability trade is price going back to top of the structure and shorting it.
HP trades are better than Valid trades as their moves will be very impulsive and better R:R