Now that Monday has finished trading, I have a better idea of what is likely to happen.
Price is looking like it is in a 2 legged pullback to find the next higher low.
Price has been inside of a bear flag since the 27th
I will be looking for shorts on Tuesday and Wednesday down into major 1 hour support for a new higher low.
My stops are always 30-40 ticks with targets varying between 65-85 ticks
I trade in direction of the 15 minute higher timeframe with the 5 and 3 minute as entries.
If the bullish trend will continue, then it needs to find a higher low and then break higher to a higher high. I will be looking for 39,500 this week hopefully as the higher high
Price is looking like it is in a 2 legged pullback to find the next higher low.
Price has been inside of a bear flag since the 27th
I will be looking for shorts on Tuesday and Wednesday down into major 1 hour support for a new higher low.
My stops are always 30-40 ticks with targets varying between 65-85 ticks
I trade in direction of the 15 minute higher timeframe with the 5 and 3 minute as entries.
If the bullish trend will continue, then it needs to find a higher low and then break higher to a higher high. I will be looking for 39,500 this week hopefully as the higher high
Note
These were my two trades today on MondayOne was a loss, a bounce off the 200sma
Two was a win with a flag pattern
Both used 35 tick stops and 70 tick targets
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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.