Price moved with high volume coming down after Ukraine/Russia news came out that there will be an attack on the 16th. Gold took a good move to the downside. I am trying to capitalise on that high volume pushing down. The previous daily closed bullish which was why I was bullish for the day but price made a 2nd range breakout before i thought sell positions were valid. I am looking for price to continue down as the 1H closed below the range with a very steep wick. there is clean traffic to the left so i am expecting clean price action coming down. Anticipating price to wick fill and cover the range. Stops are relatively tight because i wanted to use the current 1H candle high formed as we opened into NY session. Waiting for volume to score TP tonight.
Comment:
NO drawdown after entry! and +50 pips up in 5 mins, im gonna go breakeven making this a risk free trade :)
Trade closed: stop reached:
Breakeven on this one. Could have secured profits BUT It is what it is