Trader Kane walks through a short trade setup on TradingView, showing where to place a sell stop inside a prior 4-hour wick and hourly wick. He explains how a bearish hourly candle flip triggers the trade and when to move stop loss to breakeven.
And again, a lot of people are going to not really like this. But this trade isn't the sexiest of trades. Right. Again, this is what I would look for right now. This is what my sell stop would look like. Right. Anticipating that if we reverse from here, this will confirm the divergence between these two. What happens. And in this trade now, and at that point, this will now be my stop loss. You get a chance to enter because price trades and we can just zoom in. Price trades closes below the inversion right here. You get to enter here and you get to enter here. So this is right now we are entering inside of that four our wick. Right? Because this is the previous four our high and we're still in that four our candle. We don't get a new four our candle until two o'. Clock. Right. So we're entering inside of that four our wick dot and also you have to remember where did 11 o' clock open up? Right here. We are also entering inside of that hourly wish H4 previous 4 hour high. And the new hourly candle opened. This as of right now is the area that I would want to want to go break even. Right. Because this hourly candle just flipped bearish. And that's just really showcasing the aggressiveness of that. Correct? Yeah. I mean, this is not even ran. This just ran 1R. It's just purely coincidental that it's 1R. Yeah, it's. I don't care that it's 1R. I just care that this hourly candle was flipped bearish. Sorry, it's hard to show that with TradingView replay mode. So it's a bit difficult. Right. The 11am Candle opened here. Here. And this is where it opened. And now this is what the candle looks like. This is the wick. This is the body. Right. So this would be my trade and I would be out.
