Hey trader, I hope you're having a profitable week. ;)
If not, maybe you'll have one with this trade. But before taking it, let me explain how it will unfold.
The price will prepare to drop for the take profit point after it has formed a bearish reversal pattern that guides the price to break and retests its neckline and 8 MA. That's it. Simple, right? Wrong. Because the daily and 4 Hour timeframes had to behave in a certain way before deciding to look for an entry signal on the 1 hour timeframe. Our entry signal can be rejected before or after taking the trade. That will happen if the price bullish breaks and closes above our stop loss key level. With that said, take the trade at your own risk. I'm just sharing my trading journey in this platform. I'm not a financial advisor nor a signal provider.
That's for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section below, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
If not, maybe you'll have one with this trade. But before taking it, let me explain how it will unfold.
The price will prepare to drop for the take profit point after it has formed a bearish reversal pattern that guides the price to break and retests its neckline and 8 MA. That's it. Simple, right? Wrong. Because the daily and 4 Hour timeframes had to behave in a certain way before deciding to look for an entry signal on the 1 hour timeframe. Our entry signal can be rejected before or after taking the trade. That will happen if the price bullish breaks and closes above our stop loss key level. With that said, take the trade at your own risk. I'm just sharing my trading journey in this platform. I'm not a financial advisor nor a signal provider.
That's for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section below, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
