I will be looking for a couple more green candles to rally into the declining hourly 21ema. I will keep raising up my sell limit order under the body of the highest green candle until a red candle eliminates it. The candle can rally past the 21ema by a bit and is still acceptable, in fact, preferable. This would "close" the gap and hit stops up high.
I will be placing a stop above the high of that bar and will be using a 125 point stop. My target is a fixed 2 to 1 or 250 points. It has room for 450 points down to the red support line but I don't care. I am only taking my 2 to 1.
Dropping down to the 15 minute, the rally would be into the declining 200sma, which should halt it in its tracks. Its ok if it pops above by a little bit
I will be placing a stop above the high of that bar and will be using a 125 point stop. My target is a fixed 2 to 1 or 250 points. It has room for 450 points down to the red support line but I don't care. I am only taking my 2 to 1.
Dropping down to the 15 minute, the rally would be into the declining 200sma, which should halt it in its tracks. Its ok if it pops above by a little bit
Note
I need to get in the habit of remembering when trading on the 5 minute that the 5 minute's 200sma IS THE SAME as the 1 Hour 21ema. I am still getting better at reading the candles INSIDE of an hourly candle. Note
My projected two long setups IF they setup. I will see tomorrow where it opens up and how price acts.Trade closed manually
My only trade today. A buy trade like I was kind of expecting. 2 to 1
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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.