price fall sharply after breaking the wedge marking the trend reversal (turning bullish to bearish)
then retraced to 886fib extension
, try to push a little higher but was rejected by the strong resistance
we can use multiple facts to indicate that this is the perfect point entry to short:
-point D of the bearish bat
-important resistance recognized/respected multiple times
-rounded top price action pattern on the last candles
considering all of this we can suppose to have a very high probability of winning in this trade.
Because bearish bat is 80% winning rate, now with the rounded top pattern and knowing that price is in a strong resistance you can add a 5% to this winning rate
total winning rate : 85% ---- odds are with us!!!
lets see the result, even with very high probability winning rate money management is indispensable
target for this trade are on chart. price will surely go into the 0.618 fib to bounce a little and then continue to fall to the lowest point of the bearish harmonic maybe even lower
then retraced to 886fib extension
, try to push a little higher but was rejected by the strong resistance
we can use multiple facts to indicate that this is the perfect point entry to short:
-point D of the bearish bat
-important resistance recognized/respected multiple times
-rounded top price action pattern on the last candles
considering all of this we can suppose to have a very high probability of winning in this trade.
Because bearish bat is 80% winning rate, now with the rounded top pattern and knowing that price is in a strong resistance you can add a 5% to this winning rate
total winning rate : 85% ---- odds are with us!!!
lets see the result, even with very high probability winning rate money management is indispensable
target for this trade are on chart. price will surely go into the 0.618 fib to bounce a little and then continue to fall to the lowest point of the bearish harmonic maybe even lower