You can see here that price is currently between a daily support and resistance as MACD slightly on the rise. On Friday price regain a important daily support:
Case 1:
Price break through daily resistance (black line) buy. You can buy on retest of what would then be support for a conservative entry or on breakout of this same line for a aggressive entry. Personal opinion is I like aggressive entry because I am impatient and I just want to be in. But I still use good risk strategy and I never lose much. It is riskier but also more reward. Overall I don’t think much difference between aggressive or conservative entry by my own backtesting. You can see the Hull moving average right above which usually is a strong resistance/support. So if it breaks through the Hull I would add too a buy position.
Case 2:
Price loses the daily support it just regained. In which case this is a false breakout. False breakouts often lead to sharp reversals. So if daily support (white line) is lost is would sell. Then see what price does at the first black line (support). If it can’t hold this line we may be in for a bigger drop down 12700 which is a spot I have been eyeing for a while. See previous idas n links. So if price can’t hold support at about 13345 I will add to my short and hopefully ride this down to 12700.
I will try to post other ideas this week too if I can. I haven’t been posting ideas as much because I just got a big unexpected promotion at work so I try to learn a new part of my job. But I will hopefully be posting many new ideas again.
Thank you for reading. Happy trading! And please give me a thumbs up and a follow 😌
🥰Ms Bunny.
Case 1:
Price break through daily resistance (black line) buy. You can buy on retest of what would then be support for a conservative entry or on breakout of this same line for a aggressive entry. Personal opinion is I like aggressive entry because I am impatient and I just want to be in. But I still use good risk strategy and I never lose much. It is riskier but also more reward. Overall I don’t think much difference between aggressive or conservative entry by my own backtesting. You can see the Hull moving average right above which usually is a strong resistance/support. So if it breaks through the Hull I would add too a buy position.
Case 2:
Price loses the daily support it just regained. In which case this is a false breakout. False breakouts often lead to sharp reversals. So if daily support (white line) is lost is would sell. Then see what price does at the first black line (support). If it can’t hold this line we may be in for a bigger drop down 12700 which is a spot I have been eyeing for a while. See previous idas n links. So if price can’t hold support at about 13345 I will add to my short and hopefully ride this down to 12700.
I will try to post other ideas this week too if I can. I haven’t been posting ideas as much because I just got a big unexpected promotion at work so I try to learn a new part of my job. But I will hopefully be posting many new ideas again.
Thank you for reading. Happy trading! And please give me a thumbs up and a follow 😌
🥰Ms Bunny.
