I am looking for a High of Day to be put in place. Then a sell off into the gap support for a pullback. I don't anticipate price to break the low of Wednesday's peak formation low after CPI.
I am looking for NY to open lower before the bullish reversal at said level. I am then expecting price to not only take out the high of day but the range high as well (43,775). This will give Dow a 0.75% gain on the day.
I am looking for NY to open lower before the bullish reversal at said level. I am then expecting price to not only take out the high of day but the range high as well (43,775). This will give Dow a 0.75% gain on the day.
Trade active
So I entered in Long at exactly the level I wanted. I ended up getting filled at 43,366. I am using a fixed 75 tick stop at 43,291 and a fixed 200 tick target at 43,566. I did my part, now its the markets turn to show me some results. I have my 1R stop if it loses. 2.67R potential gain
Note
Trade closed manually
After almost to my target by 70 ticks, I moved stop up to B/E plus some ticks. Price came back down on me and I closed it for 27 ticks. This trade didn't quite do what I wanted after I got in. It was good at the moment of entry but lacked follow through. I planned for 200 ticks and don't take profits early at the 130 ticks I had available. My business can't afford to take small profits. I believe I executed this trade flawlessly with a great entry, great stop and target. The market just failed to deliver on its end.
Related publications
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.
Related publications
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.