Short Trade Forming Double Top
After seeing price form a tweezer top whilst reaching my weekly second trendline point on the daily timeframe, price depreciated significantly to my next key level of strong support (74.912) breaking the support with a strong bearish bar.
Due to price breaking my strong key level of support on the daily, price then decided to appreciate with a bullish hammer with strong selling pressure which gave the market more momentum to have another chance of breaking my weekly trendline but was unsuccessful and instead it formed a double top with tweezer tops.
This strong momentum of bearish candlesticks moved in my favour and I decided to enter when price formed a bearish engulfing pattern and another tweezer top showing the continuation on the downtrend movement.
Entered Price: 75.888
Stoploss: 76.145
Take Profit: 74.881
Pips: 101
Risk to reward: 1:4
Due to price breaking my strong key level of support on the daily, price then decided to appreciate with a bullish hammer with strong selling pressure which gave the market more momentum to have another chance of breaking my weekly trendline but was unsuccessful and instead it formed a double top with tweezer tops.
This strong momentum of bearish candlesticks moved in my favour and I decided to enter when price formed a bearish engulfing pattern and another tweezer top showing the continuation on the downtrend movement.
Entered Price: 75.888
Stoploss: 76.145
Take Profit: 74.881
Pips: 101
Risk to reward: 1:4
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.