I think there is a possible double bottom pattern , and maybe i cand benefit from this one.
I am not sure about my stop loss set up.
Let the show begin.
I THINK THE PRICE IS IN A SUPORT ZONE ON 1H TF.
I TOOK A LONG POSITION WITH A 1:3 RR
I EXPECT A MUCH HIGHER MOVE BUT I LIKE THIS RATIO OF RR.
RISK AND MONEY MANAGEMENT ALWAYS ON FIRST PLACE.
ON 1D CHART I SEE AN UPTREND , I HAVE 3 HH AND 3 HL, IN THIS MOMENT I THINK I CAN GO WITH NEXT IMPULSE MOVE.
I HAVE A 4H CHART ENTRY BASED ON A HAMMER CANDLE AT THE BOTTOM OF THE CORRECTION (AT LEAST I THINK SO, A TRADER WORK'S WITH PROBABILITIES), CLOSED ABOVE SUPORT AND ABOVE TREND LINE .
WITH ALL THIS INFO I DECIDED TO TAKE A LONG POSITION, WITH A 1:4 RR AND I...
I consider this a possible DOUBLE TOP , and i will force an early entry with a small STOP LOSS, and if will be validated by the break of lower support(neckline of the double top) i will take another SHOT , and make the second sell order.
FIRST SELL ORDER has a 1:2.8 RR
SECOND SELL ORDER has a 1:3 RR
PERSONAL ADVICE: MONEY MANAGEMENT ALWAYS TAKE FIRST PLACE
Let...
