Short sell set up

Apr 19, 2020

Hello Traders , I am updating this short sell set up , just taking a time to explain what i mean short sell set up ,

Any pattern in the market which repeats itself has a specific characters in it , those visual information gives an indication of what will occur next ,

but they only work 80 % of the time , so another 20 % of the time they extend by few points or by few % in the preceding direction before they make an final termination

so i always wait for confirmation on those patterns which are tricky in nature , I go blind on patterns which do not have tricky behavior in their formation ,

so here i have made a small efforts in giving an explanation on charts what to look for before you take a decision of trade

01) is pattern completed its move ?
02) did you see a reversal or price rejection confirming your forecast of trend termination ?( you personal analysis including all kind of indicators you are using )
03) Do you have plan to trade it ?
04) Do you have identified stop price before entering the trade ?
05) what are the action course once the trade is engaged? How to move the stop to cost or brake even ?

When you are set all with this then you are good to take a trade with reasonable degree of risk in live trading season

What i see is most even dont know what they are doing ? and why they are doing ? they follow some telegram channel and they enter only to take 80% of their trade to stop or loss booking

So people make yourself more knowledgeable and learn basics to better and make your gains in trading

Good luck

Apr 20, 2020

Trade active

Apr 23, 2020

Note

price have just made to possible rejection price , it was pre-mature post i think , any strong reversal or price rejection one can look for enter with stop above the rejection candle and once price move in positive put the stop to cost and leave it

Apr 23, 2020

Note

Yes it reversed , risk of trade still remain the Today high as stop