EURNOK Short
Direction: - Pair is in Bearish Order Flow and has Bearish Momentum on the H4 and Daily.
- Pattern formed in the Bearish H4 OB (Order Block).
Entry: - W (Double Top) Pattern Formation.
- Divergence occurred.
- RSI crossed volatility bands (Shark-fin), indicating a drop in the pair.
- RSI near the 68 (exhaustion zone), indicating pair was overbought.
- 13 EMA cross on second leg of pattern confirmed drop. This is my entry.
- MBL (Market Base Line) curved downwards after entry, confirming drop.
- 800 EMA showed resistance to the pattern.
Exit: - 40 pip SL @ above high (top of H4 OB).
- 71 pip TP @ day close. Did not go to original TP, however I do not like holding trades for more than one day, so I closed the trade before the day ended.
Direction: - Pair is in Bearish Order Flow and has Bearish Momentum on the H4 and Daily.
- Pattern formed in the Bearish H4 OB (Order Block).
Entry: - W (Double Top) Pattern Formation.
- Divergence occurred.
- RSI crossed volatility bands (Shark-fin), indicating a drop in the pair.
- RSI near the 68 (exhaustion zone), indicating pair was overbought.
- 13 EMA cross on second leg of pattern confirmed drop. This is my entry.
- MBL (Market Base Line) curved downwards after entry, confirming drop.
- 800 EMA showed resistance to the pattern.
Exit: - 40 pip SL @ above high (top of H4 OB).
- 71 pip TP @ day close. Did not go to original TP, however I do not like holding trades for more than one day, so I closed the trade before the day ended.