Deep Crab harmonic formed meeting all Fib requirement, beautiful rejection candle is in progress to close the day.
SL above swing high with 2 TP targets indicated by the green zone
SL above swing high with 2 TP targets indicated by the green zone
Trade active:
Entry triggered
Comment:
Only 50% of my intended position has been triggered, willing to endure a draw down and more between $249.50 - $251 in the event price moves higher to grab more liquidity
Comment:
Price actually kissed the first TP zone, 30% of the position is closed. I'm expecting more downside to TP Level 2 after a relief rally. SL Moved to breakeven
Comment:
Probability exist that price bounces to the sell zone forming a double top, i'm thinking this based on a HTF idea that is coming to fruition from a few weeks ago with Eth/BTC where another bearish harmonic pattern has been forming nicely. This would add confluence to the setup.
Comment:
Comment:
Price fully hit first TP zone, while i'm optimistic about it reaching TP 2 realistically i'm looking for signs of weakness or strength to fully close the entire position or to let it run.
Comment:
Clean close above $242.20 intraday is a sign of strength, everything else is to compound short until TP 2
Comment:
We appear to have a range between $242.5 and $242.20, consolidation before breakout most likely in the original direction of the trend
Comment:
correction : $242.50 - $236.25
Trade closed manually:
Closed remaining trade manually on price break of $243 on 1H. Not as much profit but profit is profit.
Comment:
Reflection: Price ran up to $244 area to grab liquidity, should've waited for the hourly close to make a decision. Got scammed by the scam wick, on to the next
Comment:
While I closed this trade fully after price hit TP 1 price moved to TP 2 area and fell short of it by less than $1.
The setup was great but I lacked the discipline necessary to let the trade mature to its full potential
The setup was great but I lacked the discipline necessary to let the trade mature to its full potential