The following trade was taken earlier this morning for a sell position on the 15mim TF. I trapped price in a mini area of consolidation (highlighted box) & anticipated for a break and close of the candle outside of the box. I also drew a mini trend line to see if it breaks the structure, which it did! This also allows for a tighter stop loss with a higher R:R
For observational purposes and guidance. From observations we are due some good downside, though retracement may occur first. Trade at your own risk..
I would not be surprised if we see the fall of the WTI and S & P500 this year. Although there are always alternatives
The equity markets in the US have been moving really well through highs like its nobody's business, however as they continuously progress the moves get shorter and the pullbacks non-existent. Recent a 1.5-2 year wedge in formation was broken to the upside which indicates a bull trend continuation. Usually, the pop above the broken resistance will revert at least...