Another clean setup, I identified my trend, added my support lines which will be used as resistance lines upon PRICE rejections, also added my triangle boundary lines for the downward forming triangle. Currently, the PRICE is being rejected by the resistance line (1st confirmation), added my Lightning Bolt movement lines (2nd confirmation), MA60 is in the same movement as the boundary triangle and predict the MA60 might touch the boundary triangle which will be a confirmed Double Strong resistance (3rd confirmation) and if all predictions come TRUE, I expect the PRICE to breakthrough the Support boundary of the triangle (4th confirmation), once this happens I placed a SELL STOP on a support line, this line was created from a past PRICE point. I know it is ideal to place the SELL STOP a few pips away a resistance/support line to avoid a false touch, but if the PRICE passes these many rules, there is no doubt it would turn back
Let me know what you think, would like to get a second opinion on this
Let me know what you think, would like to get a second opinion on this
Trade active
Trade closed: target reached