Beautiful Swing L at 1299.
1299 is more than just a simple level.
It is a tendency level + dynamic level that means 1299 should be reached + if broken downwards it gives a bearish sentiment, but if you go long from it and it breaks, there is a 99% chance of a test-back, meaning that you can close the long entry with 0$ loss.
If 1299 broken downwards by 2$ there is no need to go long as the tendency will be to continue down.
Other than that it is worth to go long from it and aim the same target's discussed in all last ideas!
Good Luck.
1299 is more than just a simple level.
It is a tendency level + dynamic level that means 1299 should be reached + if broken downwards it gives a bearish sentiment, but if you go long from it and it breaks, there is a 99% chance of a test-back, meaning that you can close the long entry with 0$ loss.
If 1299 broken downwards by 2$ there is no need to go long as the tendency will be to continue down.
Other than that it is worth to go long from it and aim the same target's discussed in all last ideas!
Good Luck.
Comment:
Let me rephrase couple things as they still seem hard for someone to understand, even though I wrote it in the description + posted a chart!
""""
but if you go long from it and it breaks, there is a 99% chance of a test-back, meaning that you can close the long entry with 0$ loss.
If 1299 broken downwards by 2$ there is no need to go long as the tendency will be to continue down.
""""
So if 1299 broken downwards by 2$ ( don't count in 2 numbers after the comma )
the tendency should be down.
1299 - 2 = 1297.
At 1297 1299 could be counted as broken!
After the 2$ break, there was a pullback up to 1299.
""""""
there is a 99% chance of a test-back
"""""""
Wasn't that a test-back? So at that pullback when the price reaches 1299 you are out of your long position and look for short.
Let me post a chart and zoom it in for you even more.
After 3rd time explaining it all over again which part exactly is not clear?
Thank You
""""
but if you go long from it and it breaks, there is a 99% chance of a test-back, meaning that you can close the long entry with 0$ loss.
If 1299 broken downwards by 2$ there is no need to go long as the tendency will be to continue down.
""""
So if 1299 broken downwards by 2$ ( don't count in 2 numbers after the comma )
the tendency should be down.
1299 - 2 = 1297.
At 1297 1299 could be counted as broken!
After the 2$ break, there was a pullback up to 1299.
""""""
there is a 99% chance of a test-back
"""""""
Wasn't that a test-back? So at that pullback when the price reaches 1299 you are out of your long position and look for short.
Let me post a chart and zoom it in for you even more.
After 3rd time explaining it all over again which part exactly is not clear?
Thank You
Comment:
Chances are to go back up to test 1299. Tendency Pivot is 1297, if broken by 2$ the tendency will be to continue up move! So if 1297 broken and there is a test of 1299, chances are high to break back up and continue the Long.
A lot of depends on the first move after opening.
A lot of depends on the first move after opening.
Break of 1299 by 2$ pullback - Short - Down!