A good bounce inbound after this monster sell off on OrangeJuice

21 Mac

After this monster sell off I have been looking for a good entry on the smaller time frame for a bounce back up to the large consolidation area around the .618 retracement of the move down shown here on the weekly.

I think I have got that on Wednesday with an open lower followed by a nice impulsive move up. The positioning is set for a reversal, with speculators massively still short, on the technical side we have the RSI turning up on the weekly and already crossed over on the daily.

I am in from the Wednesday close and will be looking to add on the move up with good pull backs followed by rejections on the STF.

Invalid if Wednesdays low is taken.

24 Mac

Dagangan aktif

Trade moving well, so far the test of the 200 period on the 15M followed by a rejection is looking good for an add, if this trend holds I will be looking to add midweek. Currently SL at BE and in nice profit.

25 Mac

Nota

Added to the position today with a tight SL at the opening range low and shorter term target aiming for the past daily high. 1:3 RR.