Have shorts laddered up to 9k. I see this as a low risk, high reward trade setup as I can set my sl just above 9020 laddering into long positions if it ends up going for a run to the upside.
I see us testing the top of this structure and bouncing back since it seems that the .618 lines up nicely with the top.
I am looking for a drop to around 8k will tp at 8200, 8000, and 7800. Unless my trailing stop gets hit along the way.
I see us testing the top of this structure and bouncing back since it seems that the .618 lines up nicely with the top.
I am looking for a drop to around 8k will tp at 8200, 8000, and 7800. Unless my trailing stop gets hit along the way.
Comment:
This could also be an ih&s although it looks to big as it is typically a reversal signal so taking caution here.
Comment:
Looks like we broke to the upside. consolidating on downward trend line. got flipped to long and closed out once i made up my loss. looks like it popped right back to where it broke out from. considering opening a long position but also dont want to buy into a lower high. still bearish
Comment:
Looks like we completely retraced back into the structure. happy I didnt go long. kept my plan in place. managed risk. looking for a better entry with low risk.
Looking for a bounce to 8956 (missed by $5, I should've had it slightly below the .618) and 8995 to fill the rest of my orders.