US30: Sell if this happens
We are currently trading at a pre defined sell zone. There have been opportunities to catch quick moves and I think if we are to see a bigger move down then price action will respect this zone.
You can place a runner at this zone at low risk that extends past the 1.272 or the 1.618. This may account for some market volatility.
The trade I currently have marked takes a sell at the .786 and has the stop loss extending 150 pips just past the swing high. The 1st target is at the swing low at around 400 pips for a 1:3 Risk to reward ratio.
I'm come to the sell bias using the same methods described in previous posts. With confluence on the lower timeframes I gain confidence in the area. Enough confidence to assume the risk my system has established.
Levels of Development LLC is providing this material for this site and any other related sources (including newsletters, blog post, videos, social media and other communications) for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and may not represent specific trades or transactions that we have conducted. In fact, we may use examples that are different or the opposite of transactions we have conducted or positions we hold.
All investing and trading in the securities market involves risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments, is a personal decision that should only be made after thorough research, including a personal risk and financial assessment, and the engagement of professional assistance to the extend you believe necessary.
You can place a runner at this zone at low risk that extends past the 1.272 or the 1.618. This may account for some market volatility.
The trade I currently have marked takes a sell at the .786 and has the stop loss extending 150 pips just past the swing high. The 1st target is at the swing low at around 400 pips for a 1:3 Risk to reward ratio.
I'm come to the sell bias using the same methods described in previous posts. With confluence on the lower timeframes I gain confidence in the area. Enough confidence to assume the risk my system has established.
Levels of Development LLC is providing this material for this site and any other related sources (including newsletters, blog post, videos, social media and other communications) for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and may not represent specific trades or transactions that we have conducted. In fact, we may use examples that are different or the opposite of transactions we have conducted or positions we hold.
All investing and trading in the securities market involves risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments, is a personal decision that should only be made after thorough research, including a personal risk and financial assessment, and the engagement of professional assistance to the extend you believe necessary.
Trade closed: stop reached:
Were you able to grab any profits from this move?