US30 - PRE NY SESSION ANALYSIS - 05102022
Price dropped a bit and pulled back during Asian and early NY session.
It did not pull back to the zone that I was hoping for which would have lined up with a weekly SR level and 38.2 fib but it has pulled back to the 23.6 fib level which aligns with the structure highs formed over the last few hours.
I have entered a short position around 32513 targeting previous structure low of 32080
My stop is approximately at 32620 approximately 100 points above my entry and also above the same structure highs formed over the last few hours at this 23.6 fib level.
I will be trailing my stop by approximately 100 points once the trade passes 150-200 points profit.
No major news today which is great.
Let's see how this plays out :)
Price dropped a bit and pulled back during Asian and early NY session.
It did not pull back to the zone that I was hoping for which would have lined up with a weekly SR level and 38.2 fib but it has pulled back to the 23.6 fib level which aligns with the structure highs formed over the last few hours.
I have entered a short position around 32513 targeting previous structure low of 32080
My stop is approximately at 32620 approximately 100 points above my entry and also above the same structure highs formed over the last few hours at this 23.6 fib level.
I will be trailing my stop by approximately 100 points once the trade passes 150-200 points profit.
No major news today which is great.
Let's see how this plays out :)