Sharing my first idea for a short on a failed bull pennant break out. Target down to .0065
Comment:
We broke up to retest the breakout but failed again and dropped. We’re halfway to target. Closed about half the size of position at .0071 and moved stops to profit.
Trade closed manually:
Closing out the trade a bit early here just shy of the target at .0066. I imagine we’ll reach the target and then some but it’s the weekend and I want to enjoy the rest of my night not thinking about trading.
Got a little spooked by that retest on the bull pennant. These patterns tend to fail more than they succeed so just had to look at the price action. As you can see, the 2nd break upward failed yet again and we saw a steady non stop downward movement the past 12 hours.
It didn’t go quite as expected but trading rarely does. All in all, I’m pleased with the trade and excited to share more trading ideas in the future.
Have a great Sunday cheers
Got a little spooked by that retest on the bull pennant. These patterns tend to fail more than they succeed so just had to look at the price action. As you can see, the 2nd break upward failed yet again and we saw a steady non stop downward movement the past 12 hours.
It didn’t go quite as expected but trading rarely does. All in all, I’m pleased with the trade and excited to share more trading ideas in the future.
Have a great Sunday cheers