I am long from a 1 minute opening range breakout but it looks like there is kind of a bull trap in the order book around 9600 or so.
This is also a major fib level and a point where wicks had met in both directions previously so price could have a hard time getting back through it.
I have about a 13 expected RRR on the first target for my trade and when it's that high I generally don't move to break even at all, I just let the trade run to completion.
However I would not be surprised to see price test the opening region a few times before gathering enough steam to get through the seller wall.
My plan is to take half my position off at the 13 R price and let the rest run as a swing.
This is also a major fib level and a point where wicks had met in both directions previously so price could have a hard time getting back through it.
I have about a 13 expected RRR on the first target for my trade and when it's that high I generally don't move to break even at all, I just let the trade run to completion.
However I would not be surprised to see price test the opening region a few times before gathering enough steam to get through the seller wall.
My plan is to take half my position off at the 13 R price and let the rest run as a swing.
Note
The CME gap mentioned belowNote
Candidate count that supports the idea of holding at least to the end of the day which ought to be the high.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.