macro breakout trading in accumulation/redistribution phase

5 apr 2021

macro breakout trading in accumulation/redistribution phase

simply traffic light system

Yellow = fast profitable/ Best risk to reward Payday Trade

Green = Long/Buy or take profit

Amber = Risky trading area/choppy price action/ 50/50

Red = Short/Sell or take profit

..................figures for targets are always color coded on the price scale to your right on chart.............................

Trader safe, always use as stop and enjoy your bank holiday money

5 apr 2021

Nota

5 apr 2021

Nota

First touch of immediate resistance & local macro trendline

5 apr 2021

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First take profit complete

5 apr 2021

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5 apr 2021

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INTRA DAY TRADING AND COMFIRMATIONS

5 apr 2021

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both hedge short orders filled stop above swing high with view to average out position at upper red box peak of pendant if retest does not come first....stop will be above 58980

5 apr 2021

Nota

now testing our upper trend line or the descending expanding wedge

short hedge stopped out small loss...long trade still held

loss recovered

long now trailed with view to reenter short on confirmation of failed rally at failed test of wedge trendline

5 apr 2021

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5 apr 2021

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macro shackout!!!

5 apr 2021

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6 apr 2021

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6 apr 2021

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immediate resistance hit...more shack out to come

tomorrow we should see true break out or break down

6 apr 2021

Nota

retest complete.....little more shack-out and we should be good for tomorrow

6 apr 2021

Nota

as always green box = long/buyback/take profit

safe to say this touch of green box was a nice add back to long..

long trailed from here

enjoy

7 apr 2021

Nota

this area will need to hold if we are to have lift off.........if not we will see the 53k area of chart