I went for a counter trend trade last week, in area highlighted. I assumed price action would go higher before continuing low. I thought that due to the steepness of the down turn. However, price took a brief pause then continued to drop. I went over analyzed it and am now working on my counter trend trading, I will not make the same mistake again. Currently developing better counter trend methods to exploit market more.
I circled half of the pause because i knew the second half was a double top which led to continuation in downtrend, I forgot to post it though. I lost and made adjustment and regained momentum. Stay strong and stand on all ten.
I circled half of the pause because i knew the second half was a double top which led to continuation in downtrend, I forgot to post it though. I lost and made adjustment and regained momentum. Stay strong and stand on all ten.