Using the same methods described on my other ideas, i will be using lower time frames to enter this pattern wih a considerably smaller stop. I should be risk free by the time price breaks below the entry.
As were my concerns in the published butterfly idea, these patterns were too perfectly aligned.
It would appear they were bear traps to give liquidity to the actual bearish move once the short stops were hit.
A short stop is effectively a long. These longs are then used as liquidity for the actual bearish move down.
Managed to get a good entry above the patterns standard entry, I did not have time to go to lower TF's ...
Subscribe to the links below for video tutorials on trading the Forex, Cryptocurrency and Stock markets: