Clearly a late entry, But I was more concerned for pointing out the bearish pattern!
Still confident this will be a successful quick trade.
But as I previously mentioned it would probably be a smarter idea to take a larger short position over a longer time period. But I am testing personal indicators for day trading at the moment so will just observe!
Recognising patterns and indicators on smaller Time Frames with correlating results is paramount to successful day trading in my opinion.
If this was a leveraged trade with real money I would be looking to take profit at the 50% mark and then moving the stop loss to as tight a position as I deem reasonable :)
I hope I demonstrated the chart pattern and identifying Bullish / Bearish patterns on different time frames at least!
This was only a paper trade and is important to constantly test strategies.
Happy Trading.
T. :)