Price is been forming an ascending channel and to add more to the confluence it is forming pattern with in a pattern structure.
This adds more probability that price is going to drop soon.
Keeping a great risk : reward and entering short.
This adds more probability that price is going to drop soon.
Keeping a great risk : reward and entering short.
Trade closed: stop reached:
As the price took more than 2-3hrs and was still hovering around my entry point.
I moved my SL to -0.5% so that incase the trade goes against my forecaste I only loose 0.5% and not 1%.
This trade management is part of my trading and over happy with the management.
As long as our bias does not change, I will still look to enter short.
But now I will wait for the price to break the pattern and then will enter on the next continuation pattern to enter short.
I moved my SL to -0.5% so that incase the trade goes against my forecaste I only loose 0.5% and not 1%.
This trade management is part of my trading and over happy with the management.
As long as our bias does not change, I will still look to enter short.
But now I will wait for the price to break the pattern and then will enter on the next continuation pattern to enter short.