I'm expecting price to hold this current resistance on the 4H.
If price breaks above current resistance, then I will close these contracts for a loss and salvage what I can from the position.
My profit target is around $28.
So, why $28? Because price has already checked the $33 - $30 price level noted by the check mark. I think price could move lower to the next price level around $28 noted by the down arrow.
If price breaks above current resistance, then I will close these contracts for a loss and salvage what I can from the position.
My profit target is around $28.
So, why $28? Because price has already checked the $33 - $30 price level noted by the check mark. I think price could move lower to the next price level around $28 noted by the down arrow.
Trade closed manually:
Price moved much higher above previous resistance. So, I closed the contracts for a loss. However, I was able to salvage some of the position.
Price moved much higher above previous resistance. So, I closed the contracts for a loss. However, I was able to salvage some of the position.
Price created a new resistance on the 4H.
If price closes above $35.47, then I will be exiting this position and salvaging what I can.