I had been previously looking for a higher level to add to my overall short position, but price just didn't manage to get to my preferred target.
That said, price is now reaching an area of interest to me, and where i'm looking to add to my short position, these will be at previous shorter term recent high at 133.682, then at the 61.8% = 134.285, and if price...
Update, price is still moving higher in what i see as a short term correction with lower prices expected, price poked through the 50% retracement line, given this, i'm now focused on the 61.8% at 136.971. I will add to my position at this level.
Please refer to previous G-J posts.
I'm currently long from a fair bit down, and price is nearing my sell target, when done, then i'm looking to reverse that position and go short here at 0.619 level, probably at 0.6182.
This is a longer term trade (couple of weeks) where i'm looking for price to attempt a new low below previous low shown here at 0.55093.
Price has indeed pushed higher, I'm expecting the 132.584 to be the line in the sand, a push above that by any amount invalidates my chart, and i would not remain bearish, short term, under any circumstances at this point.
130.026 is a target level which price has now reached, but i'm looking for price to move slightly higher and test the 131.378, and possibly...
Short opened at this current zone, may move a bit higher and up to the 130.343 line, but should't go any higher than that.
Looking for price to move lower, and below the previous low of yesterday.
SL just above the 130.343 plus add an amount to cover the market spread.
Updated chart with price target now added, at this area i'll be looking to go long, buy order limit has been set, and hopefully, this should reverse from that zone, it could go a bit lower as shown on the line below, but unlikely, but price swings could see it happen, if it does, then i'll add to my long at that point as well.
Refer to chart, i'm expecting price to move lower into the area as shown, this move would equal wave c=a, stops can be placed very tightly here given that price can't go below the shown line, even by one tick, as that would invalidate the overall bullish chart layout, add allowances for the trade spread.
I'm currently short on this.
For reference purposes, these are my own thoughts on this, a pull back to 97.90 / 98.78 area - (61.80% / 78.6%) is a good area to be short, or even at current price, although i think we may get back to the 98.30 area.
Targets are way down at the 91- zone.
Stop would be above the 99.88 plus an allowance for the spread.
GJ is now coming into the area of interest for me, i'll not be looking to buy anything at the first area, rather than to watch and see price extending lower towards the bottom area target.
The first area which i'm looking for price to reach is the 128.991, but i'm looking for price to go through this level, take a breather for a while, and then continue lower...
Although price yesterday came down and touched the 1st line area which was the 78.6% line, and right on the point and bounced quickly off of that, i'm not convinced enough to open that long trade just yet, as i feel we may have lower to go here. I have shown an orange line down at the 128 zone as a possible area of interest for me. It will just be a matter of wait...
SP looks to be setting up for a shorting opportunity, i'm currently long from the 2465 area, and looking to close off my position approx. 1.5 ticks below the shown top, this area is where i would be looking to open my short position, with my target being the CME limit down level as shown, prices may vary dependant on the charting software your'e using though.
Here's my initial look off yesterday's low. I'm looking for this 5 wave pattern to play out in somewhat as shown on the chart. However, the low must remain intact. Let's see how it plays out over the coming hours / days.