We are overbought on the higher TF, big burst in volume initially but volume is not fading out. We are going to take first entry here, if we push up we will continue to layer in positions and adjust SL to the higher 2nd SL tier on all positions.
Like always we are going to layer in positions to cost average our way into the trade. If we get a big push against us we can always adjust the TP with the averaged positions to close out at a profit sooner, I think the TP is an easy hit so I will keep it in place even if we end up cost averaging in.
Like always we are going to layer in positions to cost average our way into the trade. If we get a big push against us we can always adjust the TP with the averaged positions to close out at a profit sooner, I think the TP is an easy hit so I will keep it in place even if we end up cost averaging in.
Trade active
I am adding a new position short at 2.29108, moving all my stops to the secondary SL. If we keep pushing up, I will add another Short at the close of the next candle and we will re evaluate our TP and SL at that time
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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.