Trade reasons:
- Testing uptrending channel support at approx 16000
- Testing 100sma channel low at 15985
- In the 38.2%-50% retracement area of the previous up swing 16064-15925
- 15995 the monthly pivot that could act as support
Trade on tight leach below 16000, because daily 200sma channel could be the next valid support area in the 15700-15600 area, and another more significant daily dip buying area / opportunity.
So far, I'll use the 15995 monthly pivot as S/R with 25/50 points stops
Trade target -> A new high above 16512
- Testing uptrending channel support at approx 16000
- Testing 100sma channel low at 15985
- In the 38.2%-50% retracement area of the previous up swing 16064-15925
- 15995 the monthly pivot that could act as support
Trade on tight leach below 16000, because daily 200sma channel could be the next valid support area in the 15700-15600 area, and another more significant daily dip buying area / opportunity.
So far, I'll use the 15995 monthly pivot as S/R with 25/50 points stops
Trade target -> A new high above 16512
Trading success is not going to be entering winning trades, but how you exit your losing trades.