Hi friends, I hope y'all had a fantastic weekend ;)
Today, we're looking at a short-term bullish uptrend on this baby. This trend is derived from the weekly, where the last weeks price closed with a bullish reversal candle pattern on the double tops L3. Having the price do that signals an upcoming counter-trend that will be forming a bullish reversal pattern that will fully confirm the 3rd level. However, that may not happen because the price sometimes creates a fake level and continue the trend (an extended move). Therefore, let us take a look on how the bulls and bears might behave in confirming our trades and rejecting them.
Bulls: -If the price bounces off the Daily Half a Bat Neckline, 50 and bullish crossed short-term m.a's with a bullish candle close that's followed by a bullish break and retest if the (Possible) 4H H&S Neckline (1st trade signal) that will continue to guide the price to bullish break and retest the Daily H&S Neckline 2 (2nd trade signal), that will fully confirm our anticipated trend. I call these type of trades a "H&S A-E.2 and E.3" signal.
Bears: -If the price bearish breaks and closes below the Daily Half a Bat Neckline, 50 and bullish crossed short-term m.a's, that will dis-confirm our bias. So we won't take any trade.
This is not financial advice, but if you interested in taking these trades with me, these are their signals:
BUY STOP E.1@: 1.20164
Lot Size: 0.13
S.L@: 1.19668 (-0.49%)
T.P 2@: 1.21552 (+1.37%)
R/R/R: 1:2
BUY STOP E.2@: 1.20673
Lot Size: 0.10
S.L@: 1.20037 (-0.48%)
T.P 1@: 1.21552 (+0.67%)
R/R/R: 1:1
To successfully manage the trades in cutting your loses short, follow this strategy:
-If the price bearish breaks and closes below the 4H Half a Bat Neckline and 8 m.a, then you should close your trade...(Trade 1)
-If the price bearish breaks and closes below the Daily H&S Neckline 2, then you should close your trade...(Trade 2)
To successfully manage the in letting your profits to run, follow this strategy:
-If the price triggers the 2nd trade signal, then I should move my stop to B.E...(Trade 1)
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 thoughts!
Stay Blessed,
Doji-2k1
Today, we're looking at a short-term bullish uptrend on this baby. This trend is derived from the weekly, where the last weeks price closed with a bullish reversal candle pattern on the double tops L3. Having the price do that signals an upcoming counter-trend that will be forming a bullish reversal pattern that will fully confirm the 3rd level. However, that may not happen because the price sometimes creates a fake level and continue the trend (an extended move). Therefore, let us take a look on how the bulls and bears might behave in confirming our trades and rejecting them.
Bulls: -If the price bounces off the Daily Half a Bat Neckline, 50 and bullish crossed short-term m.a's with a bullish candle close that's followed by a bullish break and retest if the (Possible) 4H H&S Neckline (1st trade signal) that will continue to guide the price to bullish break and retest the Daily H&S Neckline 2 (2nd trade signal), that will fully confirm our anticipated trend. I call these type of trades a "H&S A-E.2 and E.3" signal.
Bears: -If the price bearish breaks and closes below the Daily Half a Bat Neckline, 50 and bullish crossed short-term m.a's, that will dis-confirm our bias. So we won't take any trade.
This is not financial advice, but if you interested in taking these trades with me, these are their signals:
BUY STOP E.1@: 1.20164
Lot Size: 0.13
S.L@: 1.19668 (-0.49%)
T.P 2@: 1.21552 (+1.37%)
R/R/R: 1:2
BUY STOP E.2@: 1.20673
Lot Size: 0.10
S.L@: 1.20037 (-0.48%)
T.P 1@: 1.21552 (+0.67%)
R/R/R: 1:1
To successfully manage the trades in cutting your loses short, follow this strategy:
-If the price bearish breaks and closes below the 4H Half a Bat Neckline and 8 m.a, then you should close your trade...(Trade 1)
-If the price bearish breaks and closes below the Daily H&S Neckline 2, then you should close your trade...(Trade 2)
To successfully manage the in letting your profits to run, follow this strategy:
-If the price triggers the 2nd trade signal, then I should move my stop to B.E...(Trade 1)
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 thoughts!
Stay Blessed,
Doji-2k1