I am expecting price to pull back bullish into my resistance area of around 44,600. Price is still in its bearish move from the high of the range down to the low of the range. Currently, price has been chopping around the middle of the range this week.
This will be my last trade opportunity of the week. I want to see how price reacts into resistance. I will enter if opportunity presents. I will use a 75 tick stop and 300 tick target for a 4 to 1. I feel like the week will end up closing near the low.
The trade I took today ended up in a loss. I was expecting price to pullback and continue short today. Because it is in a range, anything could have happened. I gave it a shot and the trade failed.
This will be my last trade opportunity of the week. I want to see how price reacts into resistance. I will enter if opportunity presents. I will use a 75 tick stop and 300 tick target for a 4 to 1. I feel like the week will end up closing near the low.
The trade I took today ended up in a loss. I was expecting price to pullback and continue short today. Because it is in a range, anything could have happened. I gave it a shot and the trade failed.
Order cancelled
I would like to scratch my entry area and redo. I will be looking at the highs for the dump down. I want to see how price reacts once it breaks the highs.Around the 44,750 area, NOT 600 area
Note
Thursday I will be looking for a pullback and layering into February's Open notated in orange for 250 ticks back up. Friday, I will be looking for a pullback into Friday's open for 300 ticks dump.
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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.