Oh well I manage to observe a good opportunity and took advantage of it
1st position taken was a counter trend small very aggressive entry my bias is short and I could see observing the candle behaviour and formation that the SM ( smart money was loading short entries above hence why My thoughts here are this retrace was now over.
In here you guys can see there was an accumulation phase but the tops were holding meaning the longs were being absorbed by the selling power. I managed to add positions to build my normal size position that I defined as maximum to trade/manage. it's basically I am willing to risk .5% of trading account per position open.
the factors that made me open and load in at this price levels where:
current trend direction strong short as we can see by the 34/55 or dotted 48/100
dash board full red confirms the direction of ma.
the entries were taken every time the RSI crossed below 50 coming from above it
the clear divergence on the RSI indicator
I wont include Volume in the analysis or open trade criteria because I still don't know how to interpret it well so I'm learning to see what they say but its not a factor of decision.
Two of the upper positions closed and the lower 2 BE protected free trades... remains with good indication for short direction but theres a good support area 141.06 and ofc its close to a round number so my aim would be exit these two close to that price.
Positions all closed as I don't like the candle formation that buy pin bar at support.
2.1% in profit today I'm happy with that number will keep watching the charts but only a very good setup will pull me in again.
Stay safe.
1st position taken was a counter trend small very aggressive entry my bias is short and I could see observing the candle behaviour and formation that the SM ( smart money was loading short entries above hence why My thoughts here are this retrace was now over.
In here you guys can see there was an accumulation phase but the tops were holding meaning the longs were being absorbed by the selling power. I managed to add positions to build my normal size position that I defined as maximum to trade/manage. it's basically I am willing to risk .5% of trading account per position open.
the factors that made me open and load in at this price levels where:
current trend direction strong short as we can see by the 34/55 or dotted 48/100
dash board full red confirms the direction of ma.
the entries were taken every time the RSI crossed below 50 coming from above it
the clear divergence on the RSI indicator
I wont include Volume in the analysis or open trade criteria because I still don't know how to interpret it well so I'm learning to see what they say but its not a factor of decision.
Two of the upper positions closed and the lower 2 BE protected free trades... remains with good indication for short direction but theres a good support area 141.06 and ofc its close to a round number so my aim would be exit these two close to that price.
Positions all closed as I don't like the candle formation that buy pin bar at support.
2.1% in profit today I'm happy with that number will keep watching the charts but only a very good setup will pull me in again.
Stay safe.