Question:
Hello!
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…)
Response:
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.
Best move?
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…
