Hi guys,
ok this is my last trade of the week which i closed just before the NFP release with some nice profits...
it basically was a divergence trade on the break of a trendline with some price action to confirm it. we know that from the last 5 days price wanted to break the 214 level unsucceffuly, with nice bearish divergence with the macd on the daily tf and indescion candles appearing on a nice uptrend i was willing to take the short.
the biggest risk obviosuly was that i was going countertrend but it was the divergence that really did assure me of the high probability of the trade going on to the lower tfs i waited for price to show some bearih momentum enough to atleast break the trendline which resulted from the formation of two very good pin bars earlier on.
Regards,
Ghous.
ok this is my last trade of the week which i closed just before the NFP release with some nice profits...
it basically was a divergence trade on the break of a trendline with some price action to confirm it. we know that from the last 5 days price wanted to break the 214 level unsucceffuly, with nice bearish divergence with the macd on the daily tf and indescion candles appearing on a nice uptrend i was willing to take the short.
the biggest risk obviosuly was that i was going countertrend but it was the divergence that really did assure me of the high probability of the trade going on to the lower tfs i waited for price to show some bearih momentum enough to atleast break the trendline which resulted from the formation of two very good pin bars earlier on.
Regards,
Ghous.
I believe . . .