YM DOW Sell Set Up On 1 Hour RTH Chart Wednesday 17th Jan
I will be looking for a couple more green candles to rally into the declining hourly 21ema. I will keep raising up my sell limit order under the body of the highest green candle until a red candle eliminates it. The candle can rally past the 21ema by a bit and is still acceptable, in fact, preferable. This would "close" the gap and hit stops up high.
I will be placing a stop above the high of that bar and will be using a 125 point stop. My target is a fixed 2 to 1 or 250 points. It has room for 450 points down to the red support line but I don't care. I am only taking my 2 to 1.
Dropping down to the 15 minute, the rally would be into the declining 200sma, which should halt it in its tracks. Its ok if it pops above by a little bit
I will be placing a stop above the high of that bar and will be using a 125 point stop. My target is a fixed 2 to 1 or 250 points. It has room for 450 points down to the red support line but I don't care. I am only taking my 2 to 1.
Dropping down to the 15 minute, the rally would be into the declining 200sma, which should halt it in its tracks. Its ok if it pops above by a little bit
Commentaire:
I need to get in the habit of remembering when trading on the 5 minute that the 5 minute's 200sma IS THE SAME as the 1 Hour 21ema. I am still getting better at reading the candles INSIDE of an hourly candle.
Commentaire:
My projected two long setups IF they setup. I will see tomorrow where it opens up and how price acts.
Trade fermée manuellement:
My only trade today. A buy trade like I was kind of expecting. 2 to 1
