IDENTIFY: Price is in the seller's territory.
PLAN: So looking at going short, because of the daily bias of the possible descending channel on 4hr
TRADE: Place Sell Stop order, anticipating a continuation to the upside.
NB: Use risk management to determine the Stop Loss and Take Profit and a possible retrace is at play here. Which is good for anyone looking at getting on the move on a nice price.
PLAN: So looking at going short, because of the daily bias of the possible descending channel on 4hr
TRADE: Place Sell Stop order, anticipating a continuation to the upside.
NB: Use risk management to determine the Stop Loss and Take Profit and a possible retrace is at play here. Which is good for anyone looking at getting on the move on a nice price.
Comment:
*Anticipating a move to the downside