Is S50H in an island reversal pattern or is it creating a flag, breakout from last 5 days consolidation will most probably tell us what?
As S50H is in a negative divergence and has not yet been able to close over the highs of March 2020 --Covid Highs-- a pullback down south to gather more power looks like the smart move. But the market is smart in its own way so might just as well show new strength and end the current week, with daily close over 978.
Up until today [when I went Short] I have only traded Long. Tomorrow [Friday] I gonna wait a bit longer, than I usually do, to see which side looks stronger, before I setup my day trades...yeah, that if S50H doesn't open with a strong gap, in any direction, that clears some wicks and traps investors. Because then, I will be there to help those investors get stopped out *haha*
Did my first try recording of a trade, based of the pullback I anticipated in this analysis... well had some problems recording with my trading computer so got my macbook later on [the reason to the late start] and forgot to turn off the mic so if not interested in listening to the news, turn of your sound, sorry for that but as I said, first time :)
ped53001
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today gonna be red from candle. but it's still not finish it's uptrend yet set can have potential to go 1600-1650.
SamuiTrader
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@ped53001, If it not gaps up, I'm looking to Short the pullback, even though the middle line [I have drawn] has given up some strong support & resistance in the past, my southern target is, at least, down towards 920-930.
Did my first try recording of a trade, based of the pullback I anticipated in this analysis... well had some problems recording with my trading computer so got my macbook later on [the reason to the late start] and forgot to turn off the mic so if not interested in listening to the news, turn of your sound, sorry for that but as I said, first time :)