I am looking for price to reject out of the upper trend-line and 50EMA then make another move down to test the 200sma/50% retracement/previous support (possibly creating a small double bottom), Wait for price action to print and confirm rejection and divergence. At this point i will be looking to get long until the completion of the CD leg
Hold until 1.27 extension before closing 1/2 of the position and moving stop loss to break even.
Run remaining position until 1.50 extension, depending on price action close out the remaining 1/2 or move stop loss to logical structure support level and run the position until taken out by stop.
Comments and criticism welcomed as I'm currently still learning
Hold until 1.27 extension before closing 1/2 of the position and moving stop loss to break even.
Run remaining position until 1.50 extension, depending on price action close out the remaining 1/2 or move stop loss to logical structure support level and run the position until taken out by stop.
Comments and criticism welcomed as I'm currently still learning