Just parked right in the middle of a chop zone not knowing if it wants to gap fill or go back down. 59.40 and 58.50 are the prices I’m watching as a break above or below will send this to the respective supply or demand zone. It has been trading sideways for awhile consolidating; whether it rallies or drops will have to wait and see.
This is perfect example of why I wait for a trade set up to come to me as opposed to gambling whether it will go up or down. If I gamble and I’m right, obviously gains are pretty generous but this is not a consistent way to trade and all it takes is one bad trade to blow up everything!
I’ll set alerts for a price break above or below to then go and see what price action is doing. I just saw that there is potentially a dividend this week... perfect example of an event (that I don’t trade) that can accelerate the price to one of the two zones.
This is perfect example of why I wait for a trade set up to come to me as opposed to gambling whether it will go up or down. If I gamble and I’m right, obviously gains are pretty generous but this is not a consistent way to trade and all it takes is one bad trade to blow up everything!
I’ll set alerts for a price break above or below to then go and see what price action is doing. I just saw that there is potentially a dividend this week... perfect example of an event (that I don’t trade) that can accelerate the price to one of the two zones.
Still continuing to watch.