"The more the combination, the more the confirmation" -- Trader_Joe_Lee
The market finally had some solid moves after the Fed announcement, which gave enough momentum to the sell-high spot.
To be fair, this cypher pattern is not a perfect one, that's why we need strong confirmation entry.
The inside 4hr breakdown still got plenty of rooms to run 8EMA correction, and it also formed an hourly double top.
With such combination, it's kind of a worth-taking counter-trend trade for me.
The way of executing risk management on counter-trend trade is that,
I'll risk less than what I usually do and I won't take second counter-trend trade before I got my 1st kick.
Let's see how it goes!
The market finally had some solid moves after the Fed announcement, which gave enough momentum to the sell-high spot.
To be fair, this cypher pattern is not a perfect one, that's why we need strong confirmation entry.
The inside 4hr breakdown still got plenty of rooms to run 8EMA correction, and it also formed an hourly double top.
With such combination, it's kind of a worth-taking counter-trend trade for me.
The way of executing risk management on counter-trend trade is that,
I'll risk less than what I usually do and I won't take second counter-trend trade before I got my 1st kick.
Let's see how it goes!
Note
1333.5 entry just got the 1st kick @ 1330 trail the others yo!Note
bought some @ 1326.5 1:2 spot and stopped out everything @ 1333
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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.