Probably more drawdown. Started with a small position and will ladder in down to the channel bottom. Soft SL at the moment. I will monitor and close out earlier in case of no reaction.
Comment:
Trade playing out as expected so far. What we would want to see next is acceptance above VAL.
Comment:
Price rejected from VAL and 618 Speedfan and headed back, currently also losing support to the channel bottom. This relatively quick move happens on decreasing OI, indicating Longs getting squeezed and closing out.
Trade closed manually:
I had laddered in with an average entry of around 19600. Did not expect the drop to 19200 but was prepared. See the marked out green buy zone bar and bought in. It was actually brilliant as the price dipped and reversed.
Now manually closed around 19780 in small profits. Strength is coming back but I want confirmation of MS change first closing above 20k and will probably reenter.
Now manually closed around 19780 in small profits. Strength is coming back but I want confirmation of MS change first closing above 20k and will probably reenter.