What i like to see is 1. Price action make a push down because of early sells. 2. Price action make 1 more push up to clear these early sells so we can take their positions. 3. Early sellers will be force to buy back their positions (aka stopped out). 4. Then the real drop. 5. a trigger is required to confirm the theory, entry and setup a stop loss. -for Double...
-for Time Factored Swing Trade, suggest to use: 1. lower time frame (5, 15min) entry for confirmation. Entry without confirmation is an aggressive entry and requires an appropriate trade management strategy that takes away the risk asap. 2. proper pip value calculation 3. stop loss. even for an entry that's 0.5% value of an account size
looks like buys will encounter deep pull backs because its doing a corrective structure to the upside. hence entry needs to be precise or its easy to get stopped out. be sure to have a strategy to trade corective strucutres.
Time Factored Swing - to reduce drawdown for a long term buy, in 2 weeks look for AU Bull
if level doesnt break, price will take 2 months to break previous high. good target.
- if price is able to stay above 1266.425, buys (keep) are a good idea