As we continue our price action study (see links to related ideas below), we see that price is lingering at a key zone in the market. Looking left we see the market open gap from a couple of weeks ago, which seems to be a market favorite spot. Watch price action to see how price responds to this zone..will it continue beyond this? If so I would expect to see higher prices. Will it strongly reject this area? If so I would look to go short to the key level as noted. I am inclined to believe that price will short given price action thus far but, you must study price action along the way. If this idea of a short is wrong, its OK. It is not about an idea being right or wrong, as we are not fortune tellers. The market doesn't care what we think. Rather it is how we REACT to what we see which is important. We cannot assume that price will go long or short when it reaches certain zones, but we must study price action at and around key areas in the market. Please refer to my previous linked ideas for continued study.
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Order cancelled
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revisit . price action accordingly
Comment
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Price action does not lend itself to furtherance of this idea. If in profit I suggest you close accordingly.
Trade closed: target reached
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If you stayed in this trade until the end, congratulations and great patience. I got out before the Thanksgiving holiday, protecting my profits. Profits are profits!