Today closed at the end of the session with a bearish engulfment and a pin bar wicking into the top 50% of said engulfment. I am seeing the 21ema start to flatten out and possibly roll over with massive space between the 21ema and the 200sma.
Friday I think will be a choppy/range with a slight bullish tint to maybe take out Thursday's high and make another hit at the top of the rising wedge.
I will have to see tomorrow morning how price behaves. I am only making a rough guess as I tend to not like to have biases when day trading. I just trade setups.
Like today, I have a bearish long term position down to 24,000 or -37% but I still daytraded a bullish pullback setup
This was my only trade Thursday
I was wrong on the 0.85 fib but as I don't trade the first hour, I just sat and watched it plow right through it. I took the pullback trade a full 3 Hours and 50 Minutes after the NY open.
I have learned the hard way that me personally, I get destroyed in the first hour. It is like crossing the freeway and getting hit by a semi.
Friday I think will be a choppy/range with a slight bullish tint to maybe take out Thursday's high and make another hit at the top of the rising wedge.
I will have to see tomorrow morning how price behaves. I am only making a rough guess as I tend to not like to have biases when day trading. I just trade setups.
Like today, I have a bearish long term position down to 24,000 or -37% but I still daytraded a bullish pullback setup
This was my only trade Thursday
I was wrong on the 0.85 fib but as I don't trade the first hour, I just sat and watched it plow right through it. I took the pullback trade a full 3 Hours and 50 Minutes after the NY open.
I have learned the hard way that me personally, I get destroyed in the first hour. It is like crossing the freeway and getting hit by a semi.
Comment:
Looking at February 15th, it looks eerily similar to today's price action. I overlayed the 15th on top of today's price action.
Comment:
Enter in a limit sell under that green bar for a continuation down
Trade active:
triggered in at 39,231
using my same 2 to 1
40 tick stop
80 tick target
using my same 2 to 1
40 tick stop
80 tick target
Trade closed: stop reached:
triggered in by a tick and stopped out. May have gotten in early
I will be looking at the 15' 21ema tomorrow and if I see it flat with another bearish engulfing, I will go short. Maybe around 12:30pm EST