Double top pattern, short on close below neckline.
I was already in a short trade, 50% closed on first target. Set the stoploss for the remaining 50% at 1st target and let it run.
Handel aktiv
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Moved stop loss to breakeven.
Handel aktiv
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The neckline is clearly broken on the 4HR chart, and the price tests a previous support area.
In about 3 hours USD high impact news could fuel the price to break the support area. On the other hand the price could pullback to the neckline so i adjusted my stop loss again, setting it up just above the neckline.
Trade stängt manuellt
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Kommentarer
prtrading
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Looks like this was taken right out of the textbook!
If the neckline holds, it is an easy 4 points.
Let's see if if holds.
Good Luck!
bas70seven
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Thanks! Right now the price on the 4HR is hovering around the neckline. I'll stay in this trade anyway; i moved my stop loss; momentum on the daily is still down. Maybe next weeks Chinese inflation data will fuel the short position.
If the neckline holds, it is an easy 4 points.
Let's see if if holds.
Good Luck!