Maybe I have been looking at these charts for too long but this looks good to me. If nothing more then part of it completed. Technically it's too soon to consider this because if you look up still plenty of room, but without some retracement is unlikely to me. We are also about to enter2nd MM Killzone. We just tapped the ceiling so, tapping the floor seems logical. I am just messing around not risking much on this trade. Don't have to risk much if it even half is right. As of now we are still very much in an uptrend and we technically made a higher high which makes this trade about absurd and against the trend which is not the best thing to do in most cases. I opened the position cause something on a volume footprint chart that was out of place. It indicated to me we could reverse soon. This probably is not the smartest trade, but I have never been great at following the crowd. Even funding rates are positive and predicated rates are positive.
24500 Is a massive supply zone or resistance if you prefer. It has a ton or orders stacked there. 25000 is the heaviest looking at it from a market maker view. There is almost no support below volume or limit order wise. Below 23600 is empty at the moment it would move through there with haste if it gets there.
If this has already started by the time this is published you can always find a pull back and enter the new downtrend I believe is going to form. Lets see how it plays out. My long that just completed played out wonderfully. Wish I had published that one. I only published it private cause I had my personal levels on it I have since removed.
We just 10 seconds ago enter KZ2 I mentioned earlier. Lets se what happens and who gets taken out. Good luck. Looks like it already started, sorry for late post, but it could very well come back close to entry a few times yet. Oh and I know that's not the traditional way to use FIB levels, it's something I use just to mark areas of value. I use the volume profile more. Set TP at higher volume locations.
24500 Is a massive supply zone or resistance if you prefer. It has a ton or orders stacked there. 25000 is the heaviest looking at it from a market maker view. There is almost no support below volume or limit order wise. Below 23600 is empty at the moment it would move through there with haste if it gets there.
If this has already started by the time this is published you can always find a pull back and enter the new downtrend I believe is going to form. Lets see how it plays out. My long that just completed played out wonderfully. Wish I had published that one. I only published it private cause I had my personal levels on it I have since removed.
We just 10 seconds ago enter KZ2 I mentioned earlier. Lets se what happens and who gets taken out. Good luck. Looks like it already started, sorry for late post, but it could very well come back close to entry a few times yet. Oh and I know that's not the traditional way to use FIB levels, it's something I use just to mark areas of value. I use the volume profile more. Set TP at higher volume locations.
Trade closed manually:
Trade Stop loss was hit for this portion of it I am looking for an entry if this cis truly a reversal. Waiting for clearer picture. Trade Considering where it is holding at right now more upside is likely. Too soon to tell for sure but trade is closed. Will reevaluate tomorrow.
Trade active:
I reentered when it hit my entry agauin even though it was stopped I believed the correction had more to come. Think it might be close to over and uptrend will continue soon. 0Most likely will be closing this trade out soon. It hit a TP zone and I took the profits.. Might continue to next one but uncertain at this time. If it does complete that area then we are in for some really low lows. However I still believe we will either go sideways and resume uptrend eventually or do an about face and continue where we left off. Maybe .5 or close to .618 is possible. Moving my SL to entry level and will be in great profits from the two trades.
These markets are dangerous now with the constant what I call the about face pattern but it's the one that create the range that looks like a pulse on a electrocardiogram or heart monitor. I am sure there is a name for it but I am not familiar with it. Would post a picture of it but not sure how to do that on here or if I can. Also will be extending the time of the trade out. Time and I do not get along and it is one place I admittedly struggle. Why I prefer tick charts.
Sorry I didn't update sooner I have a very sick dog that has been at the Vet this weekend and have been dealing with that. Trading from a phone is difficult. Let alone trying to post about it.
These markets are dangerous now with the constant what I call the about face pattern but it's the one that create the range that looks like a pulse on a electrocardiogram or heart monitor. I am sure there is a name for it but I am not familiar with it. Would post a picture of it but not sure how to do that on here or if I can. Also will be extending the time of the trade out. Time and I do not get along and it is one place I admittedly struggle. Why I prefer tick charts.
Sorry I didn't update sooner I have a very sick dog that has been at the Vet this weekend and have been dealing with that. Trading from a phone is difficult. Let alone trying to post about it.
Trade active:
Trade is still active nice retrace but is it going to hold or go up from here. Waiting to see. Can always switch my position if needed. Or take profits and enter new direction of a pullback if it is a resumed uptrend. Could be either because it is sitting on those levels. I personally prefer to not close the position out but swap directions keeping my profits as a buffer. This is a dangerous and risky thing unless you are sure of the direction. I am waiting to see which way it goes and will decide when I know. This has been a killer trade. I just extended the time of the trade. I moved that from a range chart so the time was off anyway.
Trade active:
So much profits so little time.... My SL is never where it is on the chart for obvious reasons. I always say find your own levels, don't use the exact trade. Just if you are going to use a trade pick places you are comfortable. All trades are just general ideas or experiments labeled as such. Lets see if it reaches the finish line.
