MYM1! Bearish Price Action for 12/13
This week has been nothing short of spectacular. I’ve always enjoyed bearish weeks, likely because I developed my strategy during similar conditions. Price action has been remarkably consistent throughout the week, and I anticipate a strong buy around 7:00 AM CST, targeting the 44,105 area before retracing into an overall bearish trend for the day post market open.
I plan to place and hold my sell position once price buys to the 44,105 area at market open. If price action doesn’t reach my "End of Day" target at 43,702, I expect it will gradually sell down to the Sellside Liquidity zone around 43,821 before market close. With no high-impact news scheduled, I feel more confident holding this trade throughout the day rather than concept surfing.
Lets finish out the week strong guys!
I plan to place and hold my sell position once price buys to the 44,105 area at market open. If price action doesn’t reach my "End of Day" target at 43,702, I expect it will gradually sell down to the Sellside Liquidity zone around 43,821 before market close. With no high-impact news scheduled, I feel more confident holding this trade throughout the day rather than concept surfing.
Lets finish out the week strong guys!
Trade closed: target reached
As expected, the low volume caused us to only reach the Sellside liquidity at 43,702. This was a lovely trade for around 235 ticks!
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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.
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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.