Price is been on a bullish move since last week.
As of now if you watch closely its been loosing momentum and likely to drop soon.
There is a potential for it to continue going little higher before the drop.
Keeping the probable Vs the possible scenarios that can likely happen.
As of now price is forming a bear flag pattern and like to drop after pattern completion.
Bias for the coming week is short and will take message from the market on monday if there is any change in pattern
Simplicity is key to be successful in trading.
Please note
Just knowing the next expected move is not enough to be profitable in the long term.
You need to know when to add more multiple calculated positions and also effectively manage the trade.
Remember my minimum risk:reward must be 1:3 or higher.
So you cannot cut the winning trade too early and you cannot turn a winning trade to a breakeven/loosing trade.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
As of now if you watch closely its been loosing momentum and likely to drop soon.
There is a potential for it to continue going little higher before the drop.
Keeping the probable Vs the possible scenarios that can likely happen.
As of now price is forming a bear flag pattern and like to drop after pattern completion.
Bias for the coming week is short and will take message from the market on monday if there is any change in pattern
Simplicity is key to be successful in trading.
Please note
Just knowing the next expected move is not enough to be profitable in the long term.
You need to know when to add more multiple calculated positions and also effectively manage the trade.
Remember my minimum risk:reward must be 1:3 or higher.
So you cannot cut the winning trade too early and you cannot turn a winning trade to a breakeven/loosing trade.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.