RUNE short position (5min trade)
Hello traders,
I wanted to demonstrate how just using market principles of supply and demand, value and control prices and market inertia - good decisions and juicy profits can be made.
Market's in a trading range and as you can see it going downwards. Well you don't have to be an expert to notice that even though market is in a trading range from the higher TF perspective, but it is going down in a tight bear channel. Having that in mind I opened short position on a small pullback from the bear trend, knowing that breakout of the channel, especially that tight will probably fail.
Furthermore markets have inertia (they will continue doing what they were doing, unless proven otherwise, so I was betting on market inertia on this tight channel.
Furthermore, the control price, the middle of the trading range (dashed middle line) acts as an additional resistance if trend wanted to reverse.
I closed the position at the bottom of trading range with 1:2 R:R ratio.
Be cautious that it is a quick trade, and I was acting on momentum.
This trade took me 5 minutes.
I wanted to demonstrate how just using market principles of supply and demand, value and control prices and market inertia - good decisions and juicy profits can be made.
Market's in a trading range and as you can see it going downwards. Well you don't have to be an expert to notice that even though market is in a trading range from the higher TF perspective, but it is going down in a tight bear channel. Having that in mind I opened short position on a small pullback from the bear trend, knowing that breakout of the channel, especially that tight will probably fail.
Furthermore markets have inertia (they will continue doing what they were doing, unless proven otherwise, so I was betting on market inertia on this tight channel.
Furthermore, the control price, the middle of the trading range (dashed middle line) acts as an additional resistance if trend wanted to reverse.
I closed the position at the bottom of trading range with 1:2 R:R ratio.
Be cautious that it is a quick trade, and I was acting on momentum.
This trade took me 5 minutes.