formulate a trade idea – your analysis, a likely possibility // set-up play out

T10 (1)Price showed clear rejection at resistance area on the daily with massive bearish engulfing. Bulls haven’t managed to push the price back up ever since.


trigger for the mentioned idea, what you want to see: clean impulse + choppy correction

T10 (2)The bearish engulfing is a downward impulse on the 4H followed by a coil which could be in the form of a pennant or rectangle. The upward channel broken with the mentioned impulse (ABC played out, AB=CD pattern, double top). Entered with the mid-range strategy but have not shifted to breakeven yet as there is a strong possibility that price may retest the broken pennant before continuing downside.

TREND on entry timeframe & 4H chart, determined by SMA if subjective (✓) 50SMA

IMPULSE registering ADX>25 (✓) Daily ADX28

COIL structure clear formation relative to prior impulse (✓)

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

Simple // ABC // ABCDE // Extended Combo


Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // Before Impulse Start

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 1.9R

Entry: 0.6999 | Stop loss: 0.7049 (-50 points) | Take Profit: 0.6901 (+98 points)


If running >1R + swing established, risk halved

If 20% left to take profit, shift to break even

If strong momentum + space to run + aligned with long term view, extend take profit and use trailing stop



Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Considered as did not follow the plan. There was no ADX momentum on entry timeframe and when price broke out of the pennant, did not shift to breakeven (protect downside)