Today closed at the end of the session with a bearish engulfment and a pin bar wicking into the top 50% of said engulfment. I am seeing the 21ema start to flatten out and possibly roll over with massive space between the 21ema and the 200sma.
Friday I think will be a choppy/range with a slight bullish tint to maybe take out Thursday's high and make another hit at the top of the rising wedge.
I will have to see tomorrow morning how price behaves. I am only making a rough guess as I tend to not like to have biases when day trading. I just trade setups.
Like today, I have a bearish long term position down to 24,000 or -37% but I still daytraded a bullish pullback setup
This was my only trade Thursday
I was wrong on the 0.85 fib but as I don't trade the first hour, I just sat and watched it plow right through it. I took the pullback trade a full 3 Hours and 50 Minutes after the NY open.
I have learned the hard way that me personally, I get destroyed in the first hour. It is like crossing the freeway and getting hit by a semi.
Friday I think will be a choppy/range with a slight bullish tint to maybe take out Thursday's high and make another hit at the top of the rising wedge.
I will have to see tomorrow morning how price behaves. I am only making a rough guess as I tend to not like to have biases when day trading. I just trade setups.
Like today, I have a bearish long term position down to 24,000 or -37% but I still daytraded a bullish pullback setup
This was my only trade Thursday
I was wrong on the 0.85 fib but as I don't trade the first hour, I just sat and watched it plow right through it. I took the pullback trade a full 3 Hours and 50 Minutes after the NY open.
I have learned the hard way that me personally, I get destroyed in the first hour. It is like crossing the freeway and getting hit by a semi.
Note
Maybe something like this with a gap close over the next couple of sessions.I will be looking at the 15' 21ema tomorrow and if I see it flat with another bearish engulfing, I will go short. Maybe around 12:30pm EST
Note
Looking at February 15th, it looks eerily similar to today's price action. I overlayed the 15th on top of today's price action.Note
Enter in a limit sell under that green bar for a continuation downTrade active
triggered in at 39,231using my same 2 to 1
40 tick stop
80 tick target
Trade closed: stop reached
triggered in by a tick and stopped out. May have gotten in early
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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.