Fibonacci to 1.618
Updated
So, I've been watching the market real close this week. Most of us recently took nice profit on a short down to sub 7k levels. But me personally I couldn't decide if I wanted to long yet. I knew if we broke 7200 area with force to the upside that we could justify a quick long, but also I didn't have a ton of bullish T.A. to support my decision other than seeing more and more bullish looking candles, and the prolonged bull flag. So I placed a trigger on price order and took a nap, it triggered and I am now in a long from 7200, but I'm taking some off the table at 7600, and 8k for sure if we make it to the fibo ext.
I'm looking at the 1.618 on my chart as a good area to TP. Short if you have beach balls. ;)
Like always, I will be updating this as I AM long from 7200.
Guys I really do work hard on these ideas to not steer anyone in the wrong direction, when I'm sure about a trade I'm sure and I say so but this is a long in a bear market so managing risk is very important here, support and like so I know I am helping traders learn and think critically about the market. Thank you for your time.
THIS IS NOT TRADING ADVICE, I AM NOT AN ADVISOR, I AM A SPECULATOR :)
I'm looking at the 1.618 on my chart as a good area to TP. Short if you have beach balls. ;)
Like always, I will be updating this as I AM long from 7200.
Guys I really do work hard on these ideas to not steer anyone in the wrong direction, when I'm sure about a trade I'm sure and I say so but this is a long in a bear market so managing risk is very important here, support and like so I know I am helping traders learn and think critically about the market. Thank you for your time.
THIS IS NOT TRADING ADVICE, I AM NOT AN ADVISOR, I AM A SPECULATOR :)
Note
NOTE: We have some bearish divergence on the chart.
Note
A clean look on 4HR TFNote
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Note
4HR
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