In this TA there are a few Key Takeaway Points which are Visible
The Daily Candle has closed and volatility will engage any moment now. I see us forming a possible rising wedge in the event of a breakout to the upside and this would also fall perfectly inline with the .382 in the 10900 vicinity making this a clear area in which I will be filling shorts at large quantities and expect a rejection on the first test. You may also observe I have drawn a line beneath the current price this represents the .618 of the previous run up which has now confirmed as support. In the event of a Breakdown exactly the opposite will apply and it will be my Target area for filling longs. Either way the market is about to move and I am looking forward to go in strong at either of the mentioned levels.
Currently I am also playing a 100X long scalp with an entry at the current price while writing this up - 10590ish the TP targets for this will be the sloping resistance of the unconfirmed Wedge that I am anticipating to form in the event of the Breakout.
My SL for the Long is very tight with a built in Sell flip order on the event of execution
Will add more information shortly the chart is about to move
May our trades come to fruition <3
The Daily Candle has closed and volatility will engage any moment now. I see us forming a possible rising wedge in the event of a breakout to the upside and this would also fall perfectly inline with the .382 in the 10900 vicinity making this a clear area in which I will be filling shorts at large quantities and expect a rejection on the first test. You may also observe I have drawn a line beneath the current price this represents the .618 of the previous run up which has now confirmed as support. In the event of a Breakdown exactly the opposite will apply and it will be my Target area for filling longs. Either way the market is about to move and I am looking forward to go in strong at either of the mentioned levels.
Currently I am also playing a 100X long scalp with an entry at the current price while writing this up - 10590ish the TP targets for this will be the sloping resistance of the unconfirmed Wedge that I am anticipating to form in the event of the Breakout.
My SL for the Long is very tight with a built in Sell flip order on the event of execution
Will add more information shortly the chart is about to move
May our trades come to fruition <3
Comment:
Update: Stop triggered I am now in a short. For decision time type trades It's important to always play with small stacks and add on confirmation with volume which has yet to come in. We are still in the tightening range, it still may be a long. Again my SL is set accordingly.
Comment:
Update: I have drawn the line of the wedge incorrectly, fixed it but am not able to add it anymore
Comment:
All going as planned so far. Let's so how the bulls handle 10880 there is a good chance we won't reach my target but it's too Juicy not to be tested IMO
Trade closed: target reached:
This trade has played out perfectly and I am now in a long Position from 10329 for now. Might close this soon though.