About meTrader of 10yrs; Quant-analysis, indicators & strategy systems since 2004; I specialize in thinkscript, easylanguage and pinescript for a company called SCRIPTaCHART. We hold all releases to a high standard of functionality & above all, trade-ability.
Stochastic providing the early entry. Stop is last low print - 2t 52.08.
I happen to be 10m delayed and know from other platform that it went down about 13t from 52.35 to 52.22 during the delay.. still anywhere around here is the hourly swing up best entry if it's going to happen. If it doesn't.. it doesn't. If you like more confirmation, enter the DTI.
Gas popped on the news that a line caught fire in the south of the US. So notice how the news event negated any sign of the B3 Weeklies study working. As price capitulated and calmed down, the levels in the study regained validity. The support has held and 1.4719 mean is the target. R:R 1.5 to 1.
Looking for the reversal at support for this week, with a divergence in the VWM oscillator, entry timing looks to be perfect. Will check back in to show the follow through, or lack thereof.
Here is why I would take the trade: I feel the return on risk is good.
Target1 = 47.48 ; 72tic Reward .. manage risk to suit >= 1:1 :
Target2 = 48.08 ; 132t Reward .....
I will be looking for price to follow through. Would like to enter short around 4820's, idea being enter within the ribbon and play the follow through of the new downtrend. Target last weeks low for >60pts. Risk 20pts at/around Friday's high, R:R = 3:1.