Lite Channel Surfing...

15 ago 2017

I like this kind of entry as the market proves it right or wrong with very little risk. On the daily we've just tapped the 61.8 as we touched the up channel. That's enough for me right there. It's some sort of corrective chop on the 4 hour. I've labeled it but it really doesn't matter. What matters is how it resolves. The low risk and my longer term bias to be a LTC buyer... gives me plenty of comfort with a long here. Note the trend line that's offered support on all of the 4hr pivots. If we break that and the stops are popped, very little damage done yet there is an 8-10 times risk reward if we start to resolve higher. I'm in...