1. Weekly timeframe:
- Big Bearish trend bar after Market reaching to weekly resistance zone.
2. Daily timeframe:
- Market broke the uptrend structure.
3. H4 timeframe:
- New resistance zone was created near the uptrend structure break.
After reaching to this resistance zone, market created a new resistance zone -> This tell us about seller pressure is coming.
- Beside it, for trading pattern,
We can see the 1st TOP of W pattern appeared -> Where is the 2nd TOP of this pattern?
at this time. engulfing appeared -> This signal for 2nd leg.
=> So, with these informations,
+ New resistance + 2 top pattern -> We can place the sell order with stoploss above the 1st TOP.
- Big Bearish trend bar after Market reaching to weekly resistance zone.
2. Daily timeframe:
- Market broke the uptrend structure.
3. H4 timeframe:
- New resistance zone was created near the uptrend structure break.
After reaching to this resistance zone, market created a new resistance zone -> This tell us about seller pressure is coming.
- Beside it, for trading pattern,
We can see the 1st TOP of W pattern appeared -> Where is the 2nd TOP of this pattern?
at this time. engulfing appeared -> This signal for 2nd leg.
=> So, with these informations,
+ New resistance + 2 top pattern -> We can place the sell order with stoploss above the 1st TOP.
Trade active
Entry activeNote
Market has already broken down the hammer of daily TF -> Confirm downtrend!
Trade closed: target reached
Done. Market hit TP.- Related strong bearish trendbar, With Market in downtrend.
Price will keep going down.
So, if you still hold the sell order, i think you should leave your stoploss.
Do not lose erverything.
Good Luck!
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.
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.