US30 (YM1!) Midterm trade - LONG

Looking for a break up out of the descending triangular pattern on the 1HR.

Jackson hole is this week and the FED will need to decide which way the market will go.

Historically, there is a rally towards the end of the year for stocks ( around the end of August ), before a drop in Christmas.

Enter with a smaller lot size to accommodate for the bigger stop size.

Order cancelled:

The entry position was just missed by the current wick, however, due to the recent news release, there may be potential for the stocks to sell off.

Stay flat for now.

Comment:

Funnily enough, the trade actually would have worked in the end, however, when in doubt stay out.

Better to prevent a loss than lose money, no?