MAIN INFO
- Date: Feb 04, 2019 (21:04 PT)
- Trend: Short (reversal)
- Time frame: Day
- Pattern/Strategy: Reversal Head and Shoulder
- Bias: Long
- News: No News
TREND ANALYSIS
- Health (highs and lows tell the whole story): Finished
- Momentum (distance between subsequent retests): Uncertain
- Clustering (if the market begins to cluster or group for an extended period at a key level, chances are the trend is about to break up or down and reverse): No clustering
- Strength: Good Trend line slope + Candle bodies (small wicks, not too big) + EXP Moving averages (on one side)
ENTRY POINT ANALYSIS
- 'Primary Cycle' Analysis (1W): Agreeing with 'Secondary Cycle' (1D)
- Market Phase Analysis (Dow Theory): Speculation
- Candlestick Analysis: Pinbar (bulls are getting ground)
- Key Level Analysis: Support/Resistance
- (10&20) EMA Analysis: Dynamic S/R + Overextension (reversion to mean) completed by the Pin bar + Crossing (trend inversion) on January 09th. Price is above the EMA 10&20. The space between EMAs (momentum information) is increasing => momentum increases.
- Wave Analysis: Impulsive
INTERMARKET - CORRELATIONS - STRENGTH ANALYSIS
- Sentiment: Risk-on
TRADE DETAILS
- Timing (entry chosen on): D1
- Volatility Analysis: Medium
- Liquidity Analysis: High (Tue/Wed/Thu)
- Order type: Limit
- Week trades #: 1st
- Risk (equity %): 0.25%
- Entry: At Pin bar neck.
- Stop Loss: At Pin bar lower 2/3.
- Take Profit: At measured objective = ~ 1220 pips
- R:R: 12.7
- Date: Feb 04, 2019 (21:04 PT)
- Trend: Short (reversal)
- Time frame: Day
- Pattern/Strategy: Reversal Head and Shoulder
- Bias: Long
- News: No News
TREND ANALYSIS
- Health (highs and lows tell the whole story): Finished
- Momentum (distance between subsequent retests): Uncertain
- Clustering (if the market begins to cluster or group for an extended period at a key level, chances are the trend is about to break up or down and reverse): No clustering
- Strength: Good Trend line slope + Candle bodies (small wicks, not too big) + EXP Moving averages (on one side)
ENTRY POINT ANALYSIS
- 'Primary Cycle' Analysis (1W): Agreeing with 'Secondary Cycle' (1D)
- Market Phase Analysis (Dow Theory): Speculation
- Candlestick Analysis: Pinbar (bulls are getting ground)
- Key Level Analysis: Support/Resistance
- (10&20) EMA Analysis: Dynamic S/R + Overextension (reversion to mean) completed by the Pin bar + Crossing (trend inversion) on January 09th. Price is above the EMA 10&20. The space between EMAs (momentum information) is increasing => momentum increases.
- Wave Analysis: Impulsive
INTERMARKET - CORRELATIONS - STRENGTH ANALYSIS
- Sentiment: Risk-on
TRADE DETAILS
- Timing (entry chosen on): D1
- Volatility Analysis: Medium
- Liquidity Analysis: High (Tue/Wed/Thu)
- Order type: Limit
- Week trades #: 1st
- Risk (equity %): 0.25%
- Entry: At Pin bar neck.
- Stop Loss: At Pin bar lower 2/3.
- Take Profit: At measured objective = ~ 1220 pips
- R:R: 12.7
Comment:
Limit order hit at 05:15 am (PT) Feb 05, 2019.
Comment:
This set up turned out to be a funny double-sided "Inside Bar Pin Bar Combo"... besides being (in first instance) a reversal H&S.
The pin bar on Feb 04 is engulfing the inside bar of the day before (this is what JB calls "Inside Bar Pin Bar Combo"); plus it is now the mother bar for the candle that just closed (Feb 05).
The pin bar on Feb 04 is engulfing the inside bar of the day before (this is what JB calls "Inside Bar Pin Bar Combo"); plus it is now the mother bar for the candle that just closed (Feb 05).
Trade closed: stop reached