Looking to go short here for two positions. Price has come up to previous resistance and placed a bearish engulfing candle.
Position 1: Stop Loss 45 Pips, Take Profit 49 Pips
Position 2: Stop Loss 45 Pips, Take Profit 113 Pips
If price reaches take profit 1, stop loss on position 2 will go to break even
Position 1: Stop Loss 45 Pips, Take Profit 49 Pips
Position 2: Stop Loss 45 Pips, Take Profit 113 Pips
If price reaches take profit 1, stop loss on position 2 will go to break even
Note
We are getting bearish engulfing candles on the 30 min chart but its starting to look like a flag pattern. I've moved my stops at red dotted line in case this breaks out upTrade closed: stop reached
So the flag pattern ended up being true and the price broke up. I had moved my stops down so loss was not that bad.Always adjusting to the price action to minimize losses!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.