USTEC is currently trading at $24611 and is bullish per the Monthly, Weekly and Daily timeframe and is bullish confluences across the indicators on the Monthly and Weekly timeframes, closing the week forming 3 white soldiers currently trading just above 70 on the Monthly RSI. Structurally looking at the daily timeframe, last week was predominantly bullish with price creating new highs. We have clear Higher Low and Higher highs forming with the latest higher low at $23000 and potential break and retest at $24000. On the 4-hour timeframe, huge dip with wick rejection upon the $24000 pivot level which kickstarted the bullish trend again. Price trading on an impulse move creating new high, trading above the 21/50SMA region and overextended bullish on the RSI. Waiting for the retracement but marking out the $24385 for potential break and retest support level… otherwise targeting the $24000 level again
With the fiasco of volatility driven trading days of the FOMC interest rate decision behind us, it is time to refocus our attention on the business at hand and it is the retracement to formulate the next HL to complete another #guaranteed ATH.
We are not bearish and we are not trading sells...only waiting for the next HL to continue the buys.
You would have noticed that last Wednesday when the volatility hour of 2:00pm - 3:00pm subsided that all we ended with was increased volatility, blown accounts and a host of news-driven traders wondering what just happened and questioning why the markets are not falling.
For this week, we will continue to see the market making HL's to HH's:
1. Our first trade will be a HL formed on the H1 or higher timeframe. 2. Our TP's will be on the HH or a LH if the market get's caught in some early consolidation cycle. 3. Then we will wait and repeat the process again and again and again
Have a great week guys.
Remember: There is only #oneauberstrategy Often imitated... Often criticized... But never duplicated
We are unapologetically bullish
HL's to HH's are always #guaranteed on the largest timeframe
USTEC hi guys, update on my open short position from Friday in the last trading hour! Sorry I will write now because today & Monday I will be very busy really but you would see my Mind when you will be ready for a nice trading week.
Entry 24590
SL is adjusted to be at 24700 (more likely the premarket will open or will reach to 24634 before a serious drop ((according to my expectation based on pure technical analysis)) so my SL is higher than that level to cover the position well in case of any market maker would like to play a bit higher but I do not think that they will be at any wish to do so!
My TP is exactly at 24244 so from there to the TP is almost 400 points And from here to my SL is around 100 points
So risk/reward ratio is 1 to 4 (that is an important element for a successful trade)
My position size is heavy but is well risk counted and I am able to carry that risk.
Please do not follow these words blindly and do not depend on my Mind because you just trust me! As I could be simply wrong.
Once the index will reach to 24244 I would open a larger long position with SL under 24130 and TP will be at 24650 then 24700 then 24850 then 25000 up to 26200
Now you have all my steps if any one is interested!
But most important now that firstly my short position succeeds!
I wish you all the best whatever position you have! And if any one has a bullish view and I was wrong so I would be happy for her/him Because simply it is not a fight on Minds for who is wrong or right! I hope some of you understand that fact which is above all us!
NASDAQ Trading Plan Idea Buy setup: On a breakout & H4 candle close above 24650, with SL 24500, TP 24800 / 25000 Sell setup: If price shows rejection around 24650, short with SL 24750, TP 24500 / 24300
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USTEC is currently trading at $24611 and is bullish per the Monthly, Weekly and Daily timeframe and is bullish confluences across the indicators on the Monthly and Weekly timeframes, closing the week forming 3 white soldiers currently trading just above 70 on the Monthly RSI. Structurally looking at the daily timeframe, last week was predominantly bullish with price creating new highs. We have clear Higher Low and Higher highs forming with the latest higher low at $23000 and potential break and retest at $24000. On the 4-hour timeframe, huge dip with wick rejection upon the $24000 pivot level which kickstarted the bullish trend again. Price trading on an impulse move creating new high, trading above the 21/50SMA region and overextended bullish on the RSI. Waiting for the retracement but marking out the $24385 for potential break and retest support level… otherwise targeting the $24000 level again
