Trade Journal: ETH Short; Previous trade invalidated.
7.15.22
7.15
The Previous ETH trade set-up invalidated, the price never retraced to BUY zone.
Switching attention to a possible ETH short on the 1H charts. NO SET UP YET. Waiting for a break in trend (green) and a retest on same line.
Considerations:
Price at major resistance
Price climbed quickly, possibility of retracement increases
Uptrend volume isn’t strong, LESS likelihood that price breaks resistance
Inverted candle pattern with follow through (strong trend reversal pattern)
INVALIDATED if price continues to trend upwards.
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