Yesterday candle pattern at res was a good signal for entering short.
Today additional confirmation has increased the probability for safer short positions.
PRO
+ back to back bear candle patters
+ today candle can be considered as a part of a not so perfect but "tradable" falling 3 methods pattern
+ today close is below the recent swing low
+ has closed decidely outside small bull channel
+ has closed back inside descending res TL/channel
+ good R:R
+ has closed below ema
+ stoch divergence
+ also good for trade multiple positions
CONS
- let's take a look at what happens at next fibo levels in the coming sessions
- a small bear candle can provide turncoat supp near 50% fibo
Today additional confirmation has increased the probability for safer short positions.
PRO
+ back to back bear candle patters
+ today candle can be considered as a part of a not so perfect but "tradable" falling 3 methods pattern
+ today close is below the recent swing low
+ has closed decidely outside small bull channel
+ has closed back inside descending res TL/channel
+ good R:R
+ has closed below ema
+ stoch divergence
+ also good for trade multiple positions
CONS
- let's take a look at what happens at next fibo levels in the coming sessions
- a small bear candle can provide turncoat supp near 50% fibo