This is a text book double top set up.
Price has tested the same area twice in the past few months. After price found resistance the second time it formed a big down candle.
One closed bar down is enough confirmation for me to enter this trade.
2% risk as usual and if the first TP gets hit close half and move trade to break even.
Price has tested the same area twice in the past few months. After price found resistance the second time it formed a big down candle.
One closed bar down is enough confirmation for me to enter this trade.
2% risk as usual and if the first TP gets hit close half and move trade to break even.
Trade closed: stop reached:
Stick to the plan