A L O H A -
Strong bearish close at top of HTF descending structure double tweezer tops.
4hr closed with a solid bear candle and with it being at a key area of the pattern, entry order just below the corrective period.
1HR - Currently 5 candle sticks with most of it being indecisive price action in the form of dojis.
Mini ascending channel on the 15 minute but don't like to gauge that as the for sure entry as the hourly is what will confirm the move.
Proceeding with caution on the 15minute as it can do a quick entry and continue to pull up for a bigger pullback forming a bigger pattern on itself but creating a loss on the books. will be keeping an eye out on this one this week.
2 hours is the new market open for us in Hawaii so will wait to volatility evens out and spreads are normal again.
**A key lesson i learned this year: never place an entry before market open or just before the week closes, either leave your SL in a decent range to adjust for spread costs, or cancel the order, wait for spreads to calm down and enter, sometimes for an even better R:R.
Have a great fantastic profitable weeks traders!
Strong bearish close at top of HTF descending structure double tweezer tops.
4hr closed with a solid bear candle and with it being at a key area of the pattern, entry order just below the corrective period.
1HR - Currently 5 candle sticks with most of it being indecisive price action in the form of dojis.
Mini ascending channel on the 15 minute but don't like to gauge that as the for sure entry as the hourly is what will confirm the move.
Proceeding with caution on the 15minute as it can do a quick entry and continue to pull up for a bigger pullback forming a bigger pattern on itself but creating a loss on the books. will be keeping an eye out on this one this week.
2 hours is the new market open for us in Hawaii so will wait to volatility evens out and spreads are normal again.
**A key lesson i learned this year: never place an entry before market open or just before the week closes, either leave your SL in a decent range to adjust for spread costs, or cancel the order, wait for spreads to calm down and enter, sometimes for an even better R:R.
Have a great fantastic profitable weeks traders!
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