Bare in mind this is set out to be a quick trade with no long term hold in mind.
The overall trend is still heavily favoring the bears in the way of a downtrend we haven't broken and new market structure showing Lower highs and lower lows.
We're forming a Doji after a strong few candles downwards. We're forming that Doji right near support which is a very good sign that we should start seeing some buy
pressure coming in very shortly. I'm going to be buying and then selling not long after, but keeping a small bag in case we break out of a current downtrend that we're in and create new highs.
Trade safe friends.
The overall trend is still heavily favoring the bears in the way of a downtrend we haven't broken and new market structure showing Lower highs and lower lows.
We're forming a Doji after a strong few candles downwards. We're forming that Doji right near support which is a very good sign that we should start seeing some buy
pressure coming in very shortly. I'm going to be buying and then selling not long after, but keeping a small bag in case we break out of a current downtrend that we're in and create new highs.
Trade safe friends.
Trade active:
Failed and fell through support, more then likely will keep drive down to the next support around $19.00, not going to ladder any additional buys just keeping the one small bag and hoping we see a nice bounce.
Trade closed: stop reached:
After a small, initial rally of a few %, proceeded to dump through supports, inevitably hitting our stop netting a total 3% loss.