( tp +200) week22 Wheat h4 shorting from the top

D1

Price contained nicely within this bearish price channel.

week22 Wheat D1 Ed channel top 260515

h4

Looked into h4 and a double top ( almost) was in the process. My conviction to short was due to previous day of bearish engulfing, that ate up the previous day which was a bullish expansion day. Hence on today’s open I shorted with in mind to put my SL above the Double Top. I did not trade full size as I was conserving that if price should retrace higher I will add more.

week22 Wheat h4 Double Top divergence short 260515

updated 310515

Successfully took profit with the correct identification of this down swing.

What I did right : ED channel and nice observation of pivoting top.

week22 wheat tp 310515

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