I am expecting a High of Day sell/ Bearish Range type of day. The 4 Hour 21ema is starting to curl downward. The last 12 hours of price have been trading under the up channel indicating a possible pullback. Because the NY session moves exactly 50 points daily, I am expecting price to go to support at 3961 for the bearish side. The bull side can see this as a false break reversal and rally up to 4060. Or it can be range bound between 4040-3980.
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Scenario 1:HOD back test Sell Set Up
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Scenario 2:Range bound
Trade closed: target reached
I used scenario 1 as my set up and my 3:1 target was reached in 40 minutes
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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.