A Butterfly Pattern, ABCD and Crab pattern form as a bullish setup and this pose a threat to my already 100pips profit short trade on the 4-hourly timeframe on a bearish crab and bearish bat shorting opportunity.
What will you do if you were me? As for me, a little retracement is normal and expected after a 100pips dive.
I had engaged in this buying opportunity to gain small profit if it hit stops, I'm not worried as I'm already 100pips in advance of the move, without risk as it creates a hedge trade scenario.
Best case scenario, I can capture the retracement movement. Worst case scenario I got stop upon this trade but a deeper dive into my shorting trading direction.
What will you do if you were me? As for me, a little retracement is normal and expected after a 100pips dive.
I had engaged in this buying opportunity to gain small profit if it hit stops, I'm not worried as I'm already 100pips in advance of the move, without risk as it creates a hedge trade scenario.
Best case scenario, I can capture the retracement movement. Worst case scenario I got stop upon this trade but a deeper dive into my shorting trading direction.
Trade closed: stop reached
Hit SL -64pips
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
Related publications
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.