We had 3 pushes down at the bottom of the channel, then got an unexpected breakout toward the top of the channel.
The breakout was strong, but it did not get very good follow-through, so for now I do not want to treat it as a clean bull breakout yet.
On the 15m, price is now forming more of a triangle / channel cycle after the breakout. Because of that, I think the better way to frame this trade is not “buying a major breakout” and also not “shorting a failed breakout.”
The trade here is more like:
betting on a 15m channel up / second leg up after a very strong reversal from the bottom of the 1H channel.
So if I take the trade here, I am treating it as an anticipatory long, not a confirmation breakout long.
Idea:
Entry around current area
Stop below the recent 15m higher low / lower edge of the structure
First target = retest of the spike high
Second target = extension higher if bulls get a second leg
If the 15m structure breaks down cleanly, then the idea is invalid.
The breakout was strong, but it did not get very good follow-through, so for now I do not want to treat it as a clean bull breakout yet.
On the 15m, price is now forming more of a triangle / channel cycle after the breakout. Because of that, I think the better way to frame this trade is not “buying a major breakout” and also not “shorting a failed breakout.”
The trade here is more like:
betting on a 15m channel up / second leg up after a very strong reversal from the bottom of the 1H channel.
So if I take the trade here, I am treating it as an anticipatory long, not a confirmation breakout long.
Idea:
Entry around current area
Stop below the recent 15m higher low / lower edge of the structure
First target = retest of the spike high
Second target = extension higher if bulls get a second leg
If the 15m structure breaks down cleanly, then the idea is invalid.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.