My short position was triggered. It possible my entry is a little early because I adjusted my limit order. So risk of trade is higher than originally planned. But at the same time I was worried about missing out on a potential lucrative trade. I guess that would be FOMO, but I will lower my stop if trade moves in my direction to limit risk.
Short is supported by:
- upward wedge
- clear supply zone
- confluence of wedge vertex with supply zone
- higher time frames re still very bearish. This is like an additional supply zone
My target is retest of inverse head and shoulders neckline. I will likely sell half my position at support of 1737.
You can see my risk reward plan on chart.
That’s it. This is as easy a setup as you can get. No indicators. Only patterns and price action
Please support by giving thumbs up!
Ms. Bunny
Composed with assistance of grammarly
Short is supported by:
- upward wedge
- clear supply zone
- confluence of wedge vertex with supply zone
- higher time frames re still very bearish. This is like an additional supply zone
My target is retest of inverse head and shoulders neckline. I will likely sell half my position at support of 1737.
You can see my risk reward plan on chart.
That’s it. This is as easy a setup as you can get. No indicators. Only patterns and price action
Please support by giving thumbs up!
Ms. Bunny
Composed with assistance of grammarly