How have you been?
Is this a reversal pattern?
I entered this trade on a black allow.
And where do I have to get out….always annoying.
And thank you very very much of the “small account into a big one” idea.
That’s absolutely amazing.
Nobody tell about these things.
(The second entry is difficult for me…)
Hey, hope you’re doing great!
That pattern in your image?
It’s a reversal structure pattern.
But, it’s a tad offbeat.
The swing highs don’t align at similar prices, a key characteristic of a classic pattern. Still, they’re pretty close, just not textbook close.
Now, about your exit strategy – tricky question.
I lean towards hanging onto my trades as long as I can.
Here’s my advice: when the market hits a point where it seems like the big banking boys might have trades set up – think the demand zone in your image – skim off some profits.
Once you reach that potential trade point, adjust your stop a little lower and keep a keen eye on the reaction. Sharp reaction? That’s usually a red flag the banks are placing more trades, and the price might start playing against your trade.
Close out and take the profit.
But what if the reaction’s more of a whimper than a bang?
Think tiny candlesticks moving against your trade. That’s your cue to stay put. It usually means the banking traders aren’t placing enough trades to cause a reversal.
Hope this clears things up…