Ascending channel - Sell
Updated
Price pattern is not fully formed yet.
Expecting it to form an ascending channel / rising wedge pattern before the major drop.
Will ideally wait for it to develop little more before looking to enter short on it.
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the entry technique and trade management after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get to squeeze maximum amount of pips from it.
Comment below in case if you need to know how to do it.
Expecting it to form an ascending channel / rising wedge pattern before the major drop.
Will ideally wait for it to develop little more before looking to enter short on it.
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the entry technique and trade management after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get to squeeze maximum amount of pips from it.
Comment below in case if you need to know how to do it.
Note
Pattern has clearly developed and order is placed.Looking for impulsive move with a potential of 90-100 pips in profit.
And will look to add in more trades as the price progresses and market gives me an opportunity which
could double / triple the pip value as price progresses.
DM or comment below if you need to know the precise entry values if interested.
Trade closed: target reached
Trailing stop loss reached.Was able to enter and scale in 2 trades, banking 5.4% over all
And 58pips in total profit.
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