I am long in CTL on daily TF. MA50 crossed MA200 on 1D TF. DC20 has been broken upwards with strong bullish candle. RSI, MACD bullish, Volume is high. Weekly DC20 has been broken upwards and is above MA50 - ready to revisit weekly MA200 which is our target. SL to be monitored. Currently if daily price closed below MA50, MA200 and DC200 his would trigger a stop. Depending on price action and progress later IF price surges MA200 may not be considered when triggering SL.
Anny comments are more than welcomed! Thank you and please trade carefully and with money only you can afford to lose.
A small Gap at the Bottom of the Big Candle the other day.
15 cent gap
Gap gets filled, shorts get killed
drgorogbalazs
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@MilesTaylor2395, yep, great notice. Thanks. Let's see how this plays out in the next few weeks.
MilesTaylor2395
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@drgorogbalazs, I sold some, to take profit and maybe buy back if the gap closed. I have a buy order in down there. If it doesn't go back, that's okay too. Break away gaps happen sometimes.
drgorogbalazs
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@MilesTaylor2395, sure, depending on the time horizon this can be a strategy. I expect pull-back potentially however my sizing and determined SL strategy does allow some swings to happen to the downside. I am trading the daily TF - trends and potential trend reversals - often determining entry points by the 4H TF and having the market outlook by looking at the weekly chart (and often for determining TPs). So I have multiple weeks patiently to wait for this one to play out and reach the target of touching or going just below weekly MA200.
Thanks for the like BTW!
15 cent gap
Gap gets filled, shorts get killed