This is a trade. But there are some risks as the price failed miserably a few days ago in a steep drop . So we don't want to push our luck and should be comfortable with a profit target near the previous swing highs. Once we get there (if), then we can evaluate what to do depending upon our indicators' levels. Stay tuned:)
Remember to relax with these trades. We are using stop losses and . This means we do not have to get too worked up with anxiety over volatile, intraday price movements. Let the market do its thing and we will do ours...we trade every trade with a plan by using the Stack indicators to plot our next moves!
*See the Legend below for the Indicator Guide*
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward showing you many more studies like this that can help you with your trading.
Daily Range-DPR (blue/magenta dots) | Weekly Range-WPR (orange/red dots) | Monthly Range-MPR (green/black dots)
6 Day Rolling Range-RPR (lime/yellow dots)
Daily Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
If the price breaks the lows of the past few days this could drop swiftly as you can see the Pivot Stack has shifted to above our current price level. Although the DPMAs are still turned upward this holds less sway than does the price and time factors. This is a potentially decent reversal trade to the downside.