Two trades:
The first was executed after price printed a Bullish Engulfing (arrow) near a level that had a collection of swing highs just beneath it. I decided to use this pattern to pre-empt a run on the liquidity that was building up in that area. Also a run on the Inside Day High.
The second is running. We've printed a 2hr Swing Failure on the second time back to the hourly level. I entered this trade prematurely after the first trade closed out and I saw the shooting star had printed in confluence with the Inside Day High. The second (smaller) Shooting Star has given me confirmation to stick around as it works in conjunction with the first Star to complete the 2hr Swing Failure.
The first was executed after price printed a Bullish Engulfing (arrow) near a level that had a collection of swing highs just beneath it. I decided to use this pattern to pre-empt a run on the liquidity that was building up in that area. Also a run on the Inside Day High.
The second is running. We've printed a 2hr Swing Failure on the second time back to the hourly level. I entered this trade prematurely after the first trade closed out and I saw the shooting star had printed in confluence with the Inside Day High. The second (smaller) Shooting Star has given me confirmation to stick around as it works in conjunction with the first Star to complete the 2hr Swing Failure.
Comment:
I'm aware there is high impact news today, this may come back to burn me. I'm not trading with any fundamental bias, only technical.
Comment:
All this selling pressure makes me feel like I'm on the wrong side of this trade.