Pattern & Market Structure based setup - biased of Bull Bat POR
Hi from my initial Bias, I could go and take short of this market as there was an impulsive movement of market to the downside breaking structure on the previous market movement up in a corrective way. With that bias, I would like to go for a bear, and there are two ways on how I can short this market, Its either i would go and take short on a bearish bat pattern which is near to the previous high, as if i am expecting market to be not in uptrending anymore and that there could be a reversal to the downside. A good placement of SL would just be above the previous high. And other way around would be a breakout of key support to go for a short as for a breakout approach.
Targets would be on the previous low as for my tp1 and extended to a certain bullish pattern completion that there could be another opportunity for me to enter long depending on future market/price action.
Trade with care as there could be an upcoming high impact news which is the UK Parliamentary election.
Targets would be on the previous low as for my tp1 and extended to a certain bullish pattern completion that there could be another opportunity for me to enter long depending on future market/price action.
Trade with care as there could be an upcoming high impact news which is the UK Parliamentary election.
トレード終了: 利益確定目標に到達:
TP 1 is hit and SL is move for positive risk free trade, and expecting to hit TP 2 and could be another opportunity for us to enter LONG.
コメント:
It seems the zone by which we would like to take TP 1 is acting as a sup/res. Here we can say support now becomes resistance.