- January 8, 2021
- Posted by: virtualxstore
- Category: trading
Hindsight is 20/20 meaning the past is obvious, but the present is not.
After breaking range high we retested it as support with many long-tail wicks; indication. If a long was entered here, once we made a off of the bounce exit the long. One could have noticed the divergence for that as well.
Keep an eye on the market structure as we head down further. If at any point the price makes a Higher High or a Higher Low, exit the short. A Swing Failure Pattern (SFP) occurred at the blue highlighted . Long-tail wicks to the downside denote a SFP. Upon seeing such aggressive demand, exit the short. If a SFP had not occurred, once the price bounced and made a HL and a HH that is market structure. Again exit the short.