Recording down the analysis which was done during 4M.
h4
felt that this was strong recognition of the price action reacting to levels.
I feel that the past few months I have significantly improved on
1) identification of key levels prior to price reaching them
2) Determining market bias based on how price reacts to them
D1
Completion of this 1234 will signify a good chance that this double top will continue.
h1
Entry @ 4pm . Smaller position as I have entered at 13TL and also not h4 close.
updated 020514
My reflections: made a good decision to short on h4 shooting star
after surviving the spike. My SL was well placed.
TP could be better considering previous week was h4 bearish expansion
Nevertheless another potential setup coming to short at confluence
Reblogged this on Naked Chartist.
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