Our high probability trade set up is bullish, however a break below the uptrend line will let us look for lower highs and lower lows before we will change our bias to bearish. For now we trade in the direction of the channel.
Always consider what the price might do, your highest probability trade setup, calculate your trade and trust the trading concept.
This is for educational purposes, and is no indication to buy or sell.
Enjoy
Always consider what the price might do, your highest probability trade setup, calculate your trade and trust the trading concept.
This is for educational purposes, and is no indication to buy or sell.
Enjoy
Comment:
A small bounce off the rising support line, followed by a great bearish story teller candle violating the support. Small indecision candles followed, remaining below rising support now acting as resistance, This was the cue to start with our bearish bias. You can see the importance to always consider what the price can do and to change your bias when needed.