BREAK or RESIST

By scottkurihara

Updated

Huge test at 4200ish

Major trend line and .618 FIB.

Note

Entered Short @ 4200 with a Tight Stop Loss at HOD.

Will most likely add to position at break of 4150.

Note

Added to short @ 4149

Trade closed manually

Got stopped out @ 4130 and most likely got faked out... Going to wait and watch price action today for another entry.

Trade active

Shorted @4150. Stop @ yesterdays high. Target 3800

Trade closed manually

Trade was closed for a loss. Crossed over the .618 fib and the trend line. Looking bullish. No swing trades open until there is a convincing move.

Trade active

Looking to open a short once it breaks below 4230. It already has crossed below the trend line. Looking for it to break below the fib

Trade active

Opened short @ 4226. Target will be 3800.
We formed a H&S at the top. However, I expect strong support from 4000 to 4150. I will watch price action closely and be sure to take profits on any signs of a reversal.

scottkurihara

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