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Hello dear readers,
This is a nice trade that I placed last Friday.
My reason to entry short was very basic: Double Top.
It was a perfect signal, let's see the reasons for that .. Ok, resistance @ 122.266 the market first reacted to that level with a pin bar (or UpThrust) after a very good up move in high volume, it made a new high for that range. After that we had a nice down move (no surprise in here ..) followed by a up move again in high volume, this time I wanted more for the test on the resistance, I wanted a pin bar (or UpThrust) with very high volume (higher than the range and the other pin bar of the double top), it had to make a new high (higher than the previous double top bar) .. and it was exactly what the market gave to us, a beautiful candle showing weakness on the market.
I placed my trade with ratio almost 1:3, but I will be monitoring it very closely because this trade is not supposed to take like one week to play out, so if I see no supply on the market I will move my trade to break-even or close it before hit target or stop.
Ciao ciao ..
Hi, I like your style and want to know more about VSA, any good books you recommend? Also do you think this type of analysis is effective for day trading and only holding positions for 1-15 minutes, Thanks.
ReplyDeleteI'm really glad you still with us. Keep posting!
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Hello Julia.
ReplyDeleteI'd like to know, how many % monthly I should expect to make for: Day Trading and Swing Trading.
Which is the "maximum" you consider?
20%? 30%? of course, it is about average...
Thank you
Rafael