The depth of the cup will be where the target it will goes up to , i.e. 2879.70.
If that happens, our short position will be taken out since we short it when it broke down from the bullish trend line.
How will the jobless claims data affect the move ? Let's see what Mr Market reveals to us in 2 hours time.......
Of course, if the resistance is not broken out and the price action hovers around the resistance level and plunge down (which is what I want since I shorted it).
If that happens, our short position will be taken out since we short it when it broke down from the bullish trend line.
How will the jobless claims data affect the move ? Let's see what Mr Market reveals to us in 2 hours time.......
Of course, if the resistance is not broken out and the price action hovers around the resistance level and plunge down (which is what I want since I shorted it).
Nota
If you study the 4H chart closely, there were 2 times that the Market play out the shortists with fake breakout only to return back to the bullish trend lines.Few would persist to execute a 3rd round whic is the profitable trade. But his net may still be a loss until proven later.
The pain of losing a few thousands can be too painful for many retail traders with limited capital and they tend to treat one loss (first loss) as the final one. Then, they hang up their trading gloves 🧤 and call it a day.
Nota
Isn't this beautiful ? Thank you GodNota
Break out of resistance, retrace and goes higher.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.