A continuation of what we've been watching this week, we're back yesterdays support for the second time and we've seen a nice small pop.
The only thing that matters if looking for longs here is closing a 30m or 1h candle above the support that the little spike down just lost and then regained.
Looking for a pop up to the support lost from our move down this week with extremely sensitive stops because the bigger time frame is what matters, and we're in a daily distribution setup (double top) so we have to use our common sense and assume that momentum isn't as bullish as it was a couple weeks ago. Ideally, we will see a pop and it will fill out our larger setup for a down move so we can hop back into a nice big short at the high.
Warning: Trading against the trend is extremely high risk and usually is how people go broke. The trend is your friend
The only thing that matters if looking for longs here is closing a 30m or 1h candle above the support that the little spike down just lost and then regained.
Looking for a pop up to the support lost from our move down this week with extremely sensitive stops because the bigger time frame is what matters, and we're in a daily distribution setup (double top) so we have to use our common sense and assume that momentum isn't as bullish as it was a couple weeks ago. Ideally, we will see a pop and it will fill out our larger setup for a down move so we can hop back into a nice big short at the high.
Warning: Trading against the trend is extremely high risk and usually is how people go broke. The trend is your friend
Comment:
Remember these arrows?
Comment:
We are stuck under this level and it's looking less and less likely for a pop. The trade is dead and closed if we lose this support.
We are stuck under this level and it's looking less and less likely for a pop. The trade is dead and closed if we lose this support.
Comment:
boooorrriiiinnnggg
Trade closed manually:
Happy Friday everyone!
I'm tired of playing around in the chop, and I also don't have much confidence in it gaining this level.
Trade closed, looking for the short re-rentry of the bigger move. Not rushing into it though, enjoy your weekend!
I'm tired of playing around in the chop, and I also don't have much confidence in it gaining this level.
Trade closed, looking for the short re-rentry of the bigger move. Not rushing into it though, enjoy your weekend!
Comment:
For the record: Although I closed my long, I wouldn't want to be shorting here
