Long trades are easy if you time your entryHere is V (VISA) chart the price is coming into a strong DZ(Demand zone) untested sweet DZ, and its from the long-term (M) chart, so even better. the weekly chart (W) where i took the trade was correcting (hoping) into this DZ. if the DZ holds the price action was indeed a correction & the long-term uptrend on the (M) will continue. if the DZ fails to hold, well technically the (M) is a downtrend and am looking for a tight Short on the higher price retest. thats how trading works. go with the flow of the price. your trading strategy is to be an instrument of the price. dont have any feelings to the stock. dont form an opinion as if you know #whatsthemarkerdoing today. have no opinion! learn to listen to the price & ride it. like riding the waves, or learning to sail with the wind. dont force a trade! a sailboat can not sail directly into the wind. so be the sailboat in the wind & your trading will work
WHY I TOOK THE TRADE
Long-term(M) in uptrend
trade chart(W) in correction to DZ
*the DZ is also the last HL of the (M) uptrend. if it holds the (M) will continue
its uptrend (technically)
ODD ENHANCERS
- Strong DZ
- untested DZ
- over supply into DZ
- current chart (W) in correction while
longterm chart (M) still in uptrend
CONFIRMATION
Strong Hammer candle stick in DZ
WHY I CVRed
- the rebound from the DZ is weak & loosing
momentum in the smaller chart(D)
The trade did not go as expected & the DZ did not hold. I respected my PT
(Profit Target) & still made 28 points per share.
thats $28 dollars per share. not bad for my trade budget
