Sharp rally from low presents another short opportunity
This rally has good momentum and previously, i mentioned I only take trades when the candle formations are within the zone.
Now, at 61.8% retracement, there is a good case when I always use risk to reward to confirm possible setups. Although i am
planning to short, it has to be in my favour. I am using a longer term 4 hour time frame to trade so i'd look out for lower high,
lower candle on the 4 hour chart, must be within the zone and place a stop entry below that candle.
Nota
FYI, actually my entry method is dependent if i'm trading patterns or market structure. For patterns, it's always fixed but for structures, i take into account the momentum and volume taking me to the zone.If, it creeps up slowly with low volume, i may decide to enter on 61.8% instead of waiting for a lower high lower low to form in the zone.Nota
I'm preparing to short, wont chase it. I'd like to see it pop up to 2445 area and above. Currently it is selling off after bad housing numbers.Nota
It is right now popping back. I'd be looking at 1 hour chart for my lower low lower high close.Nota
Entered on 2443.5. Target is at 2436.75. 2nd target is 2426.Nota
First Target has been achieved and stop is moved to breakeven.Trade chiuso: stop raggiunto
Spiked and stop out break even on remaining position.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.