Total market:
- Bounced at support, expecting more exhaustion to upside due to overextended market
Daily:
- tested daily support at local low
4H:
- tested support, buyers stepped in and pushed price up forming current hammer candle with wick
1H: (entry)
- Strong bullish candle to start hour, stoch flipping bullish on MA cross indicating bulls stepping into market at current support zone
Trade management:
- Depends on action from the total market index, but I may use discretion to scale out of trade
Stop loss: 1.357
- Below current low, support level
Take profit:1.738
- at 0.5 fib pullback level, and area of resistance giving me a 5.15R. Might take some profits around 1.55 area (0.236 fib and s/r level)
- Bounced at support, expecting more exhaustion to upside due to overextended market
Daily:
- tested daily support at local low
4H:
- tested support, buyers stepped in and pushed price up forming current hammer candle with wick
1H: (entry)
- Strong bullish candle to start hour, stoch flipping bullish on MA cross indicating bulls stepping into market at current support zone
Trade management:
- Depends on action from the total market index, but I may use discretion to scale out of trade
Stop loss: 1.357
- Below current low, support level
Take profit:1.738
- at 0.5 fib pullback level, and area of resistance giving me a 5.15R. Might take some profits around 1.55 area (0.236 fib and s/r level)
Trade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.