UUUU has been trending between $6 to $9 over the last year or two. It seems like it hit a local top and I believe it will head back down. On Feb 6th it closed within the baseline, and I watched and waited for it today; I entered a short position around 1 pm and it retraced and went back up. It never actually closed past my baseline; I should have waited for today to close, or else did it just before market close to have more accurate pricing/signals. The CLAMP indicator did agree with the trade, however.
Based on fib levels, it could plausibly reach the 6.51 to 7.03 range.
-400 @ 7.13 (4.95 fee)
Based on fib levels, it could plausibly reach the 6.51 to 7.03 range.
-400 @ 7.13 (4.95 fee)
Trade closed: stop reached:
Trade was entered mid day on Feb 7th. At the time, the candle did not close past my baseline - it was still live. Thus, it became a gray candle on my indicators and not a valid trade entry. On Feb 8th, the candle crossed and closed down, indicating a short entry signal. I should have then waited for the next trade session, today, to open my short. This would have given me ample time for it to move in my favor.