Hello traders.
I'm waiting for breakout to take short trade, because I'm expexting a big down move in higher degree, so it will make a weekly regular flat corrective structure. As you can see there is a possibility for one more up side for bigger correction before it came down. I think taking the trade is good idea, but stoploss should be moved to breakeven when it breaks last bottom to avoid losing money.
If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.
Trade with care...
I'm waiting for breakout to take short trade, because I'm expexting a big down move in higher degree, so it will make a weekly regular flat corrective structure. As you can see there is a possibility for one more up side for bigger correction before it came down. I think taking the trade is good idea, but stoploss should be moved to breakeven when it breaks last bottom to avoid losing money.
If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.
Trade with care...
Note
It made a bigger corrective structure, but in my opinion it is still a corrective structure. So, I'm keep looking for short trade setups. I start to wait a correction after small drop in order to take short trade. In the mean time I have an entry order below previous bottom. Trade active
Note
It broke the previous bottom. Move stoploss to breakeven. If a down impulse is in the making, otherwise it can reverse.Note
Typo in the previous comment.It broke the previous bottom. Move stoploss to breakeven. If a down impulse is in the making it should go down, otherwise, it can reverse.
Note
I closed half of my trade. It reached my target and I'm looking for upside for the bigger correction. Just in case I decided to keep half of it because it can keep going down. Note
The second half of the trade stopped out with break even. So, it was a nice trade and some profit. I'm looking for sort trade setups again.
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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.