Hi Guys, This is my first post,I've had a few experiences with trading but have adjusted my strategy to suit high probability trades and still learning to get my entrys right so here is my idea, do comment and let me know your thoughts.
We are in a correction channel, not far off from the third touch.
We have multiple 4hr double tops which are all close by (blue lines).
The third touch combined with DT are at the magic 61.8% fib, so i expect a sell first back to the channel trend line with potential to drop further.
Comment:
unfortunately we were so close! but did not get the third touch, nor did i get the restest which was early morning!
The chart I have added for educational purpose showed it did touch a third time of another inner top pattern but price action happening at 1am means trade missed.
It has now broke out of the trend line, which means a nice pull back to retest we can then enter sell again if you missed it like me, still alot of down movement we can capitalise on lets do this!
unfortunately we were so close! but did not get the third touch, nor did i get the restest which was early morning!
The chart I have added for educational purpose showed it did touch a third time of another inner top pattern but price action happening at 1am means trade missed.
It has now broke out of the trend line, which means a nice pull back to retest we can then enter sell again if you missed it like me, still alot of down movement we can capitalise on lets do this!
Trade active:
uk.tradingview.com/chart/fdLFMUHP/
entered when it came back into structure,could potentially be slightly early but even with tweaking the trend line, I cant see it going pass 30% fibs hence my entry
entered when it came back into structure,could potentially be slightly early but even with tweaking the trend line, I cant see it going pass 30% fibs hence my entry
Comment:
correct link:
another confluence to make the trade even more perfect, inner pattern within the 4hr pattern also indicating the third touch would touch this outer pattern and 61%!