Hi guys,
this is a simple trading setup. It all starts from higher timeframe, specifically daily, where we have a downtrend and a retest of the broken support that could now turn into resistance (yellow box). Given that, we all know that this is a key place to look for trading opportunities because it could yield great results with the help of the master trend. Therefore, i've gone down on lower timeframes and seeked for a nice setup. Here on the hourly chart, you can see there's a double top right at a Bat completion point, with RSI divergence. This is enough for me to enter the market short, with stops above the highs, and targets as shown.
If you have any idea/question, feel free to comment beneath.
Otherwise, see you in the next chart!
this is a simple trading setup. It all starts from higher timeframe, specifically daily, where we have a downtrend and a retest of the broken support that could now turn into resistance (yellow box). Given that, we all know that this is a key place to look for trading opportunities because it could yield great results with the help of the master trend. Therefore, i've gone down on lower timeframes and seeked for a nice setup. Here on the hourly chart, you can see there's a double top right at a Bat completion point, with RSI divergence. This is enough for me to enter the market short, with stops above the highs, and targets as shown.
If you have any idea/question, feel free to comment beneath.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached:
First target hit!
Trade active:
After being stopped at breakeven for my second position, i'm re-entering short (2618 strategy):
Trade closed: stop reached:
Stopped out on my second trade