Hi friends, I hope y'all had a fantastic weekend ;)
Today, we're looking at a possible bullish short-term trend on this baby. This trend is derived from the weekly time frame that recently closed with a bullish reversal candle pattern in the mini bearish half a bats L3. Usually when the price reaches a level it counter-trends to either retest previously broken and not retested key levels or to form a reversal pattern. In this situation the price wants to do both. However, that might not happen because as you know trading is a probability game. With that said, let us discuss how the bulls and bears might behave in triggering our trades and not.
Bulls: -If the price bounces off the 3rd Monthly Key Lvl and bullish crossed short-term m.a's with a bullish candle pattern formation that guides the price to bullish break and retest the (Possible) 4H H&S Neckline, that will trigger and confirm our trade signal. I call this type of trade a "H&S A-E.3 signal".
Bears: -If the price bearish closes below the 3rd Monthly Key lvl, 50 and bullish crossed short-term m.a's, that will dis-confirm our bias.
This is not financial advice, but if you interested in taking this trade with me, this is its signal:
BUY STOP @: 1.02437
Lot Size: 0.18
S.L @: 1.02051 (-0.49%)
T.P 2@: 1.03489 (+1.44%)
R/R/R: 1:2
To successfully manage this trade in cutting your loss short, follow this strategy:
-If the price bearish breaks and closes below the (Possible) 4H H&S Neckline, then you should close your trade.
To successfully manage this trade in letting your profit run, follow this strategy:
-If the price bullish breaks and retests the 2nd Daily Key Lvl, then you should move your stop loss to B.E.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thought!
Stay Blessed,
Doji-2k1
Today, we're looking at a possible bullish short-term trend on this baby. This trend is derived from the weekly time frame that recently closed with a bullish reversal candle pattern in the mini bearish half a bats L3. Usually when the price reaches a level it counter-trends to either retest previously broken and not retested key levels or to form a reversal pattern. In this situation the price wants to do both. However, that might not happen because as you know trading is a probability game. With that said, let us discuss how the bulls and bears might behave in triggering our trades and not.
Bulls: -If the price bounces off the 3rd Monthly Key Lvl and bullish crossed short-term m.a's with a bullish candle pattern formation that guides the price to bullish break and retest the (Possible) 4H H&S Neckline, that will trigger and confirm our trade signal. I call this type of trade a "H&S A-E.3 signal".
Bears: -If the price bearish closes below the 3rd Monthly Key lvl, 50 and bullish crossed short-term m.a's, that will dis-confirm our bias.
This is not financial advice, but if you interested in taking this trade with me, this is its signal:
BUY STOP @: 1.02437
Lot Size: 0.18
S.L @: 1.02051 (-0.49%)
T.P 2@: 1.03489 (+1.44%)
R/R/R: 1:2
To successfully manage this trade in cutting your loss short, follow this strategy:
-If the price bearish breaks and closes below the (Possible) 4H H&S Neckline, then you should close your trade.
To successfully manage this trade in letting your profit run, follow this strategy:
-If the price bullish breaks and retests the 2nd Daily Key Lvl, then you should move your stop loss to B.E.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thought!
Stay Blessed,
Doji-2k1