After a 30% rally of the lows, Price has reached a .618 fib retracement of previous bearish swing from $9995. Inside bar has formed and broke to the downside. Therefore, a quick short can be open. Tight stop just above the inside bar. target is previous breakout in 7700-8000 area.
I use trading view as a log of my trades, this post is not a financial advice.
comments welcome.
Danny
I use trading view as a log of my trades, this post is not a financial advice.
comments welcome.
Danny
Trade closed: target reached:
first target reached. R:R 1:1, moved stop loss to break even, in the sight of the negative ETF news, Im letting rest of my position run. target around 7500
Comment:
setting a trailing stop for the night. $200 wide from 7880.
Trade closed manually:
reminder of the trade closed manually at 7900. this was a counter trend trade. In hindsight, it was probably too aggressive, however i liked how resistance zone and inside bar combine so the trade was a success.
Comment:
developed a new downtrend. now consolidating near a crucial support. Going to wait for price to pick a direction and enter upon break up/down and retest.
Dan
PS: this is not a financial advice. simply blog of my ideas I would like a feedback from more experienced traders, and to see how I perform over time)
PS: this is not a financial advice. simply blog of my ideas I would like a feedback from more experienced traders, and to see how I perform over time)