Today I was open to more downside, especially with all the tariff noise lately. There was some fake news yesterday about a 90-day tariff pause, which pumped the market short-term. But even though it was fake, price held up — until today.
Higher Timeframe Context: 4H (Top-Left): Price was rejecting the 50% Fibonacci retracement from the April highs around 20,000. This level also aligned with my monthly VWAP (red line) — key confluence.
30M (Top-Right): Price had pushed up into the white EMA, which was perfectly in line with the orange weekly pivot and the prior day’s (fake news) high. That was my “line in the sand” to look for rejection.
Entry Setup: 1-Min (Bottom-Right): I saw a mini head and shoulders pattern form near that key resistance zone.
Once price broke the neckline and my orange/blue EMAs, I took the short.
Stop: Placed just above the weekly pivot.
Target: Took partials at 2R, and left a runner.
Exit: I closed the rest of the trade to lock in gains and avoid being greedy. Of course, as soon as I closed, it ran further in my direction for what would’ve been nearly 3x more profit — but hey, that's trading.