Breakout or reversal?

28 thg 8, 2017

Pardon me for not cleaning up the chart because I want to use it as a form of reminder
how precarious trading can be if I am too obstinate on certain directions in the market
and how fast market can change its opinion.

Ok, now for A6, i'm ready to take a trade if there is a lower high lower low candle being
form on the 1 hour. In classical candlestick reading, i'd need a 3 bar formation which
confirms a reversal, place my stop above the high. I'd first target the nearest support and
then the next one. This is a counter trend trade with higher risk but if you want to trade
it go ahead.