A perfect short pocketing a quick 2% growth on the account. My entry point is the red arrow and TP at the black arrow.
I will show my working below in updates, so you can look out for similar opportunities. This price action pattern shows up time and time again and is a textbook footprint of smart money.
This trade signal was sent out in my free Telegram page live - t.me/joinchat/AAAAAE0O1iqtC8Yfm1...
I will show my working below in updates, so you can look out for similar opportunities. This price action pattern shows up time and time again and is a textbook footprint of smart money.
This trade signal was sent out in my free Telegram page live - t.me/joinchat/AAAAAE0O1iqtC8Yfm1...
Comment:
This is where the trade idea starts to get interesting for me and I am looking for an entry.
I have highlighted the green bull move where, after removing all of the supply, the bulls have been able to push much higher. This is normal price action and nothing that gives an outright trade opportunity.
Its only after I see the candle highlighted in purple that I know there will be a short opportunity. This is over-exuberant buying and moves price into heavily overbought territory meaning there needs to be at least some pullback.
Once price levels off and you start to see some more selling come in. (the indecision candles with big wicks. You know there is a high probability short entry.
Volia!
This is where the trade idea starts to get interesting for me and I am looking for an entry.
I have highlighted the green bull move where, after removing all of the supply, the bulls have been able to push much higher. This is normal price action and nothing that gives an outright trade opportunity.
Its only after I see the candle highlighted in purple that I know there will be a short opportunity. This is over-exuberant buying and moves price into heavily overbought territory meaning there needs to be at least some pullback.
Once price levels off and you start to see some more selling come in. (the indecision candles with big wicks. You know there is a high probability short entry.
Volia!
I have highlighted two important areas the intially caught my interest for this trade - on the first box we can see some minor resistance (supply).
This will be an area to watch, as it will become a battleground for bulls and bears again in the future. When price revisits this level, either the bulls have got to buy up all the outstanding supply there before they can move above... or the bears will be too strong and supply forces the price down again.
The second box shows you how the bulls have heavily been buying into this supply and slowly working their way through.