Hourly chart formed a flag which had a false break out and stayed in a flag. There is fairly strong resistance/support lines forming a channel inside the flag. I would be willing to risk a trade on a strong break either side of the channel or pennant depending on how the chart develops. I see these to be short term trades with very tight stops due to the current market climate and don't want to be in a trade if it returns to the channel.
Long: Entry; $5833.3
Stop-Loss; $5775
T1; $6013.5
T2; $6513
Short: Entry; $5420.3
Stop-Loss; $5526.8
T1; $4992
These trades are risky assess your own risk, place stop-losses and be confident.
Long: Entry; $5833.3
Stop-Loss; $5775
T1; $6013.5
T2; $6513
Short: Entry; $5420.3
Stop-Loss; $5526.8
T1; $4992
These trades are risky assess your own risk, place stop-losses and be confident.
Trade active:
Trade triggered at $5833.5, bears didn't let it escape the $5750 region for long though and the stop for part of my position was hit at $5775
Second part of my position has stop-loss set at $5700 which has held so far. I will monitor closely if it gets close to the 6k mark and re-assess a possible target.
Second part of my position has stop-loss set at $5700 which has held so far. I will monitor closely if it gets close to the 6k mark and re-assess a possible target.
Comment:
Trade closed: stop reached:
Trade closed at second stop. Heading back towards the support at $5500, lets see how strong it is.