Reasons for shorting
- A head and shoulder has formed on the bigger timeframe so hoping it will go down
- price has been bouncing off a trendline for sells and it is approaching the trendline now
- there is liquidity resting at the neckline of the head and shoulder so I hope price goes to take it out
Right now price hit the Bearish wick to rebalance itself but but I am looking for it to go up to the first order block circled in yellow. This will also be the 71.8% fib enabling the SL to be smaller and for me to get price at a premium.
TPs will pretty much be at structures but I would be happy to ride it down to 1.8053 level which is another order block. Order blocks are points of interest.
Use good risk management if the trade fails
- A head and shoulder has formed on the bigger timeframe so hoping it will go down
- price has been bouncing off a trendline for sells and it is approaching the trendline now
- there is liquidity resting at the neckline of the head and shoulder so I hope price goes to take it out
Right now price hit the Bearish wick to rebalance itself but but I am looking for it to go up to the first order block circled in yellow. This will also be the 71.8% fib enabling the SL to be smaller and for me to get price at a premium.
TPs will pretty much be at structures but I would be happy to ride it down to 1.8053 level which is another order block. Order blocks are points of interest.
Use good risk management if the trade fails
Bình luận:
Welp - price left without me
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