DislikedUJ Short Trade Setup: After the US open another PA lower HLs wave formed as the market worked the price up/down in the whole number area. The repeated PA spikes up and down thru the whole number with notable volume today indicated the market is bearish. Entry: I entered as price began to fall below the whole number. Target & Comments: I do not have a TP or SL set, and I am waiting for tomorrow's RDH/RDL marks to set a TP. {image}Ignored
I opened my trade slightly before this. Using the S&R levels but i also entered on the classic short wave.
- Daily: We can see on the daily that the price has been ranging in a triangle. Based on todays price action it has gone up to the 38.2 FIBO level and all the way down to the 61.8 FIBO level. If the 61.8 LEVEL is broken we can potentially see the price going below 98.000
- 15min: chart we can see throughout last nights asian session the price reached the upper cluster resistance line fell back down on low volume and went back up with high volume all the way up to the 99.000 whole number. (Knocking prices up to build up their short positions). Once they satisfied these positions during the london session prices were hammered back down to another support level with high volume the greedy MMs (were playing the range to profit on the up and down!) During the US Session prices were then brought back up with high volume trading with the highest volumes above the whole number! (Bulls build shorts above the numbers)