Hi everyone,
I'm looking to take profits at the top of the Trading Range and leave a smaller position to run (with relatively tight stops) just incase of a breakout (formation of a new uptrending line created on the daily - please see related ideas below)
However i'm leaning more towards this being a Trading Range in the shorter term, through observation of the bears entering the market. I therefore believe that the bears will step in at the top of this Trading Range.
I'll look to see how the market moves and if the Trading Range continues then i'll look for some shorts at the top here.
Please see my previous chart idea for further details ("Related Link" below).
Please LIKE and FOLLOW for support and more chart analysis.
I'm looking to take profits at the top of the Trading Range and leave a smaller position to run (with relatively tight stops) just incase of a breakout (formation of a new uptrending line created on the daily - please see related ideas below)
However i'm leaning more towards this being a Trading Range in the shorter term, through observation of the bears entering the market. I therefore believe that the bears will step in at the top of this Trading Range.
I'll look to see how the market moves and if the Trading Range continues then i'll look for some shorts at the top here.
Please see my previous chart idea for further details ("Related Link" below).
Please LIKE and FOLLOW for support and more chart analysis.
코멘트:
I'm looking for either a clear break and continuation above or a break below the trendline and begin a new ABC wave with the goal of taking profits at the bottom of the trading range.
코멘트:
We may get some downward pressure here and begin Wave A. I will scalp this down.
코멘트:
Wait for a failed breakout attempt for any shorts
코멘트:
Potential double tap
코멘트:
bulls holding support levels well. Looking for that very extreme for a breakout or failed breakout.
코멘트:
코멘트:
Looking good so far. Want to see more follow through selling.
코멘트:
1 min picking up strongly. Breaks below trend line adds even more confirmation. Good short as of now. Look out for potential bounce from uptrend line too.
코멘트:
Retest and rejection will definitely confirm it. Otherwise if it's strong enough we will break below.
Another option is also here that bulls overcome the "2nd test" and drive it up for a breakout.
Another option is also here that bulls overcome the "2nd test" and drive it up for a breakout.
코멘트:
So far breaking. Look for candle closes for confirmations
코멘트:
To me this is a short opp.
코멘트:
A LEG down for a decent scalp. Count the waves.
Care for a move up again, possibly retest the top again. How far A wave moves down may have a play on the B wave retracement.
Care for a move up again, possibly retest the top again. How far A wave moves down may have a play on the B wave retracement.
코멘트:
코멘트:
Most likely failed breakout and completing our A-B legs
코멘트:
One thing i'm wary of is this on the Daily:
코멘트:
One thing i'm wary of is this on the Daily:
코멘트:
If it's going to fail the breakout we need something here.
코멘트:
A lot of wicks at the top indicating there are bears pushing this down/rejecting price.
코멘트:
Not strong looking bear bars.. but lets see how it goes. I must go to sleep, take care everyone. Care for the breakout or failed breakout. Play accordingly.
코멘트:
15 min will give a stronger indicator
코멘트:
I would pop in a short here:
Otherwise we might blast through to the next large resistance zone.