1D chart made a fantastic break out. What's happening now?
TWT did a correction to the closest support and accumulating there, this can take several hours or even days (if a good support/accumulation happens).
What you can do? In my point of view:
1) Wait for a break out 2.10 and go market buy. It's not the safest way, but you can move with the market controlling your position with a STOP LOSS that you can place every inch higher when price is moving with an impulse.
2) Accumulate now price, but keep in mind if that support / accumulation (~1.82- 2.10) zone fails this can go lower for ~1.50 zone (last support zone in this whole impulse), so don't place yall money in this support zone.
3) The last support zone (from sep21 & march22). Wait for (~1.50) zone and place several good buy limits.
What will I do?
I'm going to accumulate (~1.82- 2.10) this support zone, only if I see that:
a) volatility is getting lower (hours/days later)
b) for example every low on the 1H chart is higher than previous (this means buyers placing good limits to hold the price) so this can bring a new market impulse break out - this what am exactly waiting for.
also:
c) I'll place buy limits from ~1.50-1.70.
TWT did a correction to the closest support and accumulating there, this can take several hours or even days (if a good support/accumulation happens).
What you can do? In my point of view:
1) Wait for a break out 2.10 and go market buy. It's not the safest way, but you can move with the market controlling your position with a STOP LOSS that you can place every inch higher when price is moving with an impulse.
2) Accumulate now price, but keep in mind if that support / accumulation (~1.82- 2.10) zone fails this can go lower for ~1.50 zone (last support zone in this whole impulse), so don't place yall money in this support zone.
3) The last support zone (from sep21 & march22). Wait for (~1.50) zone and place several good buy limits.
What will I do?
I'm going to accumulate (~1.82- 2.10) this support zone, only if I see that:
a) volatility is getting lower (hours/days later)
b) for example every low on the 1H chart is higher than previous (this means buyers placing good limits to hold the price) so this can bring a new market impulse break out - this what am exactly waiting for.
also:
c) I'll place buy limits from ~1.50-1.70.
Trade closed manually
Few hours later entered (1) 2.10 and closed for 2.40 with a 14% profit is not that bad :)Note
Smooth 2.10 retest I entered again and there is a chance that we go higher, let's see.
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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.