Position Management – Consolidation and Missed Exit Opportunity
Position Management – Consolidation, Inverse Head & Shoulders, and Missed Exit Opportunity
In this video, we continue managing the position, which remains in consolidation. Price taps the 50% level where we took our first partial, retraces higher, and taps the inverse fair value gap that previously held support for the sell-off. From there, we rush lower to the 9:33 AM fair value gap, finding instant support and bouncing just shy of the 50% mark of that gap.
This is also coinciding with the 25% level of the daily fair value gap. As price trades up to the 7.05 area, we create a triple top before moving lower again, but it’s been choppy and ugly. At around 11:00 AM, I reflect on how taking profits at the first test of the 9:33 AM fair value gap would've been the ideal move, putting us up around $380.
We’re now observing a potential inverse head and shoulders forming, with the 9:33 AM fair value gap as the head and the 50% area as the higher right shoulder, suggesting a reversal for higher prices.
Trade Overview:
Price Action: Choppy movement, with multiple taps of key levels
Key Levels: 9:33 AM fair value gap, 50% of fair value gap, 25% daily fair value gap
Pattern: Observing an inverse head and shoulders setup forming
Exit Reflection: Considering missed opportunity to take profits at 11:00 AM.
In this video, we continue managing the position, which remains in consolidation. Price taps the 50% level where we took our first partial, retraces higher, and taps the inverse fair value gap that previously held support for the sell-off. From there, we rush lower to the 9:33 AM fair value gap, finding instant support and bouncing just shy of the 50% mark of that gap.
This is also coinciding with the 25% level of the daily fair value gap. As price trades up to the 7.05 area, we create a triple top before moving lower again, but it’s been choppy and ugly. At around 11:00 AM, I reflect on how taking profits at the first test of the 9:33 AM fair value gap would've been the ideal move, putting us up around $380.
We’re now observing a potential inverse head and shoulders forming, with the 9:33 AM fair value gap as the head and the 50% area as the higher right shoulder, suggesting a reversal for higher prices.
Trade Overview:
Price Action: Choppy movement, with multiple taps of key levels
Key Levels: 9:33 AM fair value gap, 50% of fair value gap, 25% daily fair value gap
Pattern: Observing an inverse head and shoulders setup forming
Exit Reflection: Considering missed opportunity to take profits at 11:00 AM.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.