US30 LONG opportunity is here after a 5%+ dip
Trade parameters:
- Buy the 16250 - 16200 zone
- Stops Below 15973 (2014-2-20 low)
- Target1 16700
- Target2 a new high above 17148
Reasons for the trade:
- Market dipping below 200dma channel low (16303), where dip buyers should emerge
- Market retracing 50% of the 2014 range at 16242
- Market touching the Weekly S1 pivot at 16257
- Market touching the weekly 50sma channel high at 16300
- Technicall oversold conditions, that should get at a bounce...
Let's see if this market is really weak and bearish or if this is a "normal" dip opportunity.
Trade parameters:
- Buy the 16250 - 16200 zone
- Stops Below 15973 (2014-2-20 low)
- Target1 16700
- Target2 a new high above 17148
Reasons for the trade:
- Market dipping below 200dma channel low (16303), where dip buyers should emerge
- Market retracing 50% of the 2014 range at 16242
- Market touching the Weekly S1 pivot at 16257
- Market touching the weekly 50sma channel high at 16300
- Technicall oversold conditions, that should get at a bounce...
Let's see if this market is really weak and bearish or if this is a "normal" dip opportunity.
Trading success is not going to be entering winning trades, but how you exit your losing trades.