Trading journal entry #1
Today we took a short trade in anticipation of the interest rate decision from the fed.
Our confluences:
-Trade was taken during the New York session.
-Price started displaying bearish behaviour as it approached resistence.
-The resistence area was in the golden zone.
-Price displayed a change in character by breaking the upward supporting trend line prior to printing a double top pattern at a resistence zone.
-Fed interest rate was announced to be raised by 75bps as was expected.
Thank God for the Skill
Today we took a short trade in anticipation of the interest rate decision from the fed.
Our confluences:
-Trade was taken during the New York session.
-Price started displaying bearish behaviour as it approached resistence.
-The resistence area was in the golden zone.
-Price displayed a change in character by breaking the upward supporting trend line prior to printing a double top pattern at a resistence zone.
-Fed interest rate was announced to be raised by 75bps as was expected.
Thank God for the Skill
Comment:
Also, note the engulfing candle that was printed at the resistence area. Notice the momentum.
Trade closed: target reached