We can see that price has moved up to take out liquidity, then move aggressively to the downside. This means that the trend is likely reversing to the downside.
This looks like the top of the rising wedge and we could be seeing the start of the down move; taking out the lows along it's way and fueling price to the downside.
I say fueling because it will be taking out the stops of everyone along it's way.
We can also see the RSI that has dropped below the trendline witch was formed by the start of the the pattern (rising wedge)
Personally one of my best setups
This looks like the top of the rising wedge and we could be seeing the start of the down move; taking out the lows along it's way and fueling price to the downside.
I say fueling because it will be taking out the stops of everyone along it's way.
We can also see the RSI that has dropped below the trendline witch was formed by the start of the the pattern (rising wedge)
Personally one of my best setups
注释
Update: moved my stop higher for a bigger RR potential because a tighter range has formed in the favour of the trade direction交易开始
Second entry possibility on the retest of the trendline:注释
^^ If we look at the 15min timeframe, we can see that it is in conversion with the rejection of the last POC level交易手动结束
On reviewing the initial setup, the setup was not AAA grade because we didn't see as much of a tightening before the dump. So for there was not as much selling pressure building up, thus the move was not as pronounced as I originally expected. For future reference / note, I should be taking profits sooner when this happens. :)
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。