Thought I would share a little late night trade with you. I spoke about this analysis on the 28th and it has adjusted slightly to account for this new trendline that has formed. Still showing a failure to break above with good bearish momentum. As long as price closes below support I will be entering with a sell limit with the levels provided. Remember to always use appropriate risk management.
Trade closed: stop reached
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Price failed to hold this support zone. Onto the next one!
man your sl is so tight make it a little bit longer i mean there is downward trend look at the higher low
Official_VIFX
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@Maxamed78, Hi, hope you are well. Thank you for the comment. The analysis provided is based on assuming that the retest was going to be the new lower high that breaks the trend and shifts the momentum. I understand your reasoning behind the comment but this is the trading style that has worked best for me and I have had over a 65% win ratio with this particular patter. Everyone has different trading styles which for one person could be a huge success and others a disaster.
make it a little bit longer
i mean there is downward trend
look at the higher low