Waiting for a Short re-entry.

Stoch RSI is bottoming out at my previously plotted psychological support line. It broke a little past it earlier, meaning there's still room for downward movement, possibly even finishing the pitchfork near 1.07. The expectancy for this trade I'm placing is for it to retrace roughly up to 1.0890 before another short entry is available again based on trader sentiment.

I'll keep you posted on this analysis in the next 12-24 hours.

Adjustment Entry:
Long: 1.0871
Stop: 1.0865
Limit: 1.0885

Main Re-entry
Short: 1.0885
Stop: 1.0915
Limit: 1.0800


Note: This is NOT a signal; this is my personal journal. Trade at your own risk.

Comment:

UPDATE: Price point hit my 1.0871 entry point, I collected some chips back on the adjustment, and shorted the market again at 1.0876 all the way down to 1.0836.

The trade is still open to complete the pitchfork but I updated my stop loss to 1.0845 for a decent 15% ROI for the day regardless of the outcome. Not too bad.

Let's see where we go from here!

NEW TRADE
Short entry: 1.0876
Stop loss: 1.0845
Limit: 1.0800