Trading Strategy - Shorting a Rally in The Downtrend.
Trading Set-up - Retracement - Resistance - Chart Pattern
Entry - Short at 1210
- Price retraced to 1237 (0.50%) of its previous swing. (1579.60 to 895.15)
- Price is trading in .
- Anticipating price action making a chart pattern.
How I Set Stop-loss - Price broke the previous swing high, and trading below that level. Today's high is 1257, set as a stop-loss.
How I Set Target - Expecting to price to resume the primary trend and may take a deep retracement at 0.78% of this counter-rally which is at 974.
50% Retracement & Anticipating Chart Pattern
Support Becomes Resistance or Supply Zones
In Trading, Trade Management is more important than technical analysis and trading itself.