Price was a daily resistance (red zone) which we see in the past (when we look left). price had tested that zone a couple of time giving us a confirmation of how strong that zone it. anticipated price would drop from there, my other confirmation was the 4hr doji close on past Friday. we took a short and TP was smashed. looking forward to price pulling back for a...
analysis Gone south! hahahahaahahah, its one of those things. it wont be realistic to always post winning trades, would it. I ain't perfect. but I was looking forward to that daily resistance (red zone) to hold, seeing a double top too, but hey, markets said NO. LOL AND WE RESPECT THAT. WE MOVE ON
anticipated price would move up based on the double bottom pattern formed at our daily support. target was at our previous support broken by price to the downside now turned resistance, and our tp was hit. price is currently forming a series of LH's & LL's we might be looking for a short position here as well. God bless
So with CJ we saw price had formed a rising wedge (the 1st) so we drew our trend lines for further confirmation. price eventually broke out of our lower trend line which is what we were waiting for (break & retest) adn took our short position. let me note this, we could have taken our shorts at the tests of our upper trend line with those two strong pin bars...
Price after that strong bullish move, we anticipated price could retrace to our two areas of support before moving back up which played out quite well. Also we see a bullish flag formed, with price breaking to the up side with a bullish move which we caught. however after the breakout price got an area of strong sell pressure which had been tested in the past,...