Daytrade
HG1! Copper Day Trade 28-Sept-2023TRADE DIRECTION: LONG
Price broke and closed above the Short-Term Trendline (red line). Before that, there were many candlesticks with long lower wicks (yellow eclipses) and bullish reversal candles (green arrows) formed around the lower line of the Parallel Channel (green dashed line), indicating buyers had started to accumulate long positions and sellers took profit off their short positions.
KEY LEVELS:
1. Short Term Trendline (red line)
2. Parallel Channel (green dashed line)
3. Daily Pivot (Traditional Type)
TRIGGER SIGNAL:
Bullish Pin Bar (yellow arrow) and prior bullish reversal candles.
AMZN: there's strong support here, but I'll wait for TL touchThis would likely be a daytrade or 1-2 day swing when this transpires anyway.
If I miss out on the reversal, it's better than entering too early.
One strategy is to enter slow, but that can be detrimental if you don't know what that means and if you don't have discipline.
Also there's a h/s on the 4hr candle-chart. So I'll wait.
Look at my AMZN short from yesterday. Paid well and hit targets. Puts are at least +100%.
Look for support and resistance lines to help with daytradesI'm looking for a DT entry here on AMD but instead of entering prematurely and hoping it goes up, I'm waiting for bullish confirmation that will happen if bulls reclaim the resistance and use it as support. Meaning, it should shoot above resistance, then dip down to that line as SUPPORT. That would be my ideal entry.
Watch to see what happens here. Good learning experience even if you are not in the trade. You are welcome to use volume and moving averages to assist you with your entries.
NASDAQ:AMD