Anatomy of a Top
Selling Conviction
Using the market profile to sell a potential top with conviction. This was the trade I took, then later added to. I exited the last position at the near-exact bottom.
Image 1. There’s more to it than a meme
Selling A Top
I wrote on more than one occasion that I was short from the highs - as well in last week’s lesson - it was what I called an ‘easy trade’. Although there is no such thing, some trades offer a clearer entry and defined risk than others,
Those are the ones you should take.
Image 2. You had time to join!
What’s great about the profile is that it gives clear references without too much guesswork. The rest is up to you to manage risk.
Image 3. Even my cat sets these up
The other advantage is that it cuts out the noise by reducing the timeframe, in addition to emotion that often comes with trading candles.
Image 4. What’s the cleaner setup and stop?
I trade both, and I will unpack my intra-week trade below, in case you missed it.
You won’t believe how clear it was when we finish the lesson…