Hi Traders,
Today we are on the UK100
In the 4-hour time frame, we see a nice double top.
My entry was the deepest point of the neckline.
I waited for the price to retrace to the deepest point at the top of the resistance of the neckline.
My short position opened then.
I had confluence from the divergence across the MACD as well as the large bearish volume that occurred during the impulsive break of the neckline.
My target is previous support which gives me a Risk/Reward of 1/2
Have a good Tuesday!
The Vortex Trader
Today we are on the UK100
In the 4-hour time frame, we see a nice double top.
My entry was the deepest point of the neckline.
I waited for the price to retrace to the deepest point at the top of the resistance of the neckline.
My short position opened then.
I had confluence from the divergence across the MACD as well as the large bearish volume that occurred during the impulsive break of the neckline.
My target is previous support which gives me a Risk/Reward of 1/2
Have a good Tuesday!
The Vortex Trader