In the 4H chart price has formed a bearish engulfing candle indicating the price might have been exhausted of the up move and is now being taken over by the bears. I entered a short at current price targeting at least the 0.618% retracement as TP. SL above 147.895
Safe trading guys!
We can see a bull flag that formed inside the chanel indicating a move up, and price already closed outside the flag during market close. But I will be looking to short this at the top of the channel.
In this example I show you one of the ways I use to trade in a 4hr timeframe.
The idea is to first wait for ema cross, and then wait for at least 2 retracements, after retracement, open a position and place sl below or above the previous retracement depending on your position.
The only downside to this strategy is you might miss a lot of other trading...