I have a Bearish Stance on the US30 and US500...BUT price MUST BREAK Previous Day's LOW First! No Break, No Trade.
- Price Divergence Between US30 and US500. US30 Made HH and US500 made HL...Also US30 broke Previous Week's high while US500 Did Not.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that takes out the Previous Day's LOW
- 1:25+ RR
- TP#1 Previous Week's Open (Black Line)
- TP#2 Previous Week's Monday Low
Use at own risk...Am a rookie!
- Price Divergence Between US30 and US500. US30 Made HH and US500 made HL...Also US30 broke Previous Week's high while US500 Did Not.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that takes out the Previous Day's LOW
- 1:25+ RR
- TP#1 Previous Week's Open (Black Line)
- TP#2 Previous Week's Monday Low
Use at own risk...Am a rookie!
Trade active:
Holding until tomorrow (Friday) NY Open(8am est)
Trade closed manually:
TGIF!