Hey traders, This is Ahmed the founder of Pro Trading University,
I am going to short this market once it hits the red level. The trend is bearish. I know this after we closed below the previous cycle low. I think I did a good job in explaining my thought process in the chart. Please ask me any question, I will be happy to answer them as I will be staying here in my trading office all day long with nothing to do :P
I already canceled my pending orders since this is not a double top any more. I hope it works out for you.
spiterman
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yes i did not take this either, didnt have a rule for entry
spiterman
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whats your rule on entry ?
Ahmed-J
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Hi Spiterman, if bearish trend, then double top (retest). If risk/reward better than 1 to 1 -> enter. This is the simplified rule for this specific trade.