24-Oct-19

24 Okt 2019

Short Entry: 7619
Stop Loss: 7871
Target: 6761
R:R: 3.4

|O.o|

25 Okt 2019

Nota

Short Order Amended:

Short Entry: 7714
Stop Loss: 7871
Target: 6761
R:R: 6.07

25 Okt 2019

Nota

Here's a quick summary of the recent __market action__, what it could mean for the __short term outlook__ and how I am changing my __trade plan__ in response:

__Market Action:__
Volatility and volume are low, and trend is stalling. This can indicate a period of high volatility in the near future. Skip to next section for tl;dr
Low Volatility is indicated by extremely tight hourly Bollinger Bands. Stalling trend is indicated by the hourly ADX (trend following indicator) dropping below 50 and touching the 40 level (orange arrow in chart) - this can indicate that the trend is about to either 1) cool off with a corrective bounce up, resulting in a break through the 40 level of the ADX, or 2) accelerate down resulting in the ADX bouncing off the 40 level.

__Short Term Outlook:__
The low volatility suggests that the breakout/breakdown will likely have a lot of energy. The drawn out period of low volatility has given bearish trendlines time to indicate lower and lower targets. If the market is to seek liquidity, as it often does, then a break upwards could be expected before a continuation down. Overall the trend is very bearish but an upward bounce seems likely

__Trade Plan:__
I have raised my short entry to allow for a higher volatility bounce upwards if the market seeks liquidity. I am still holding 2 short positions with targets unchanged. I have lowered my long entries to allow for a deeper drop indicated by the bearish trendlines.

25 Okt 2019

Dagangan ditutup: hentian tercapai

Short Entry: 7714
Stop Loss: 7871
Target: 6761
R:R: 6.07