I would consider this a C trade.
Here's why
Cons
1) the stop is far ,
2) missed the little pop at the end of day , could have had a slightly better stop vs entry distance ( I did enter in final 30 min per my
rules , however ...)
3) we have not cleared the range, big bars are common in ranges .
4) LL , DB , MTR could be a possibility , would have rather seen several more bull days , perhaps a rally to Apri 18th low to reject
before getting my entry.... ( lower low , double bottom , major trend reversal )
Pros
1) Bulls failed to have follow through from yesterdays FOMC rally signal candle
2) Stage 4 downtrend w/ death cross valid
3) If we do breakdown more bears will sell the entry candle and follow-through candle ...
4) Possibility for a measured move down
5) Valid signal per my strat and market in RTM ( red trading mode )
Ultimately I have taken the trade anyways because I have been waiting for this and even though its a weak signal , it is a signal. I have gotten more defensive on my de risk plan too though ....
I am taking profits on 1/3 at 1R and there I will switch to BE stop .... then will cover another 1/3 at 2R , then sell the rest on a close above 10/21 ema's.
Stop 147.01
PT 133.49
Here's why
Cons
1) the stop is far ,
2) missed the little pop at the end of day , could have had a slightly better stop vs entry distance ( I did enter in final 30 min per my
rules , however ...)
3) we have not cleared the range, big bars are common in ranges .
4) LL , DB , MTR could be a possibility , would have rather seen several more bull days , perhaps a rally to Apri 18th low to reject
before getting my entry.... ( lower low , double bottom , major trend reversal )
Pros
1) Bulls failed to have follow through from yesterdays FOMC rally signal candle
2) Stage 4 downtrend w/ death cross valid
3) If we do breakdown more bears will sell the entry candle and follow-through candle ...
4) Possibility for a measured move down
5) Valid signal per my strat and market in RTM ( red trading mode )
Ultimately I have taken the trade anyways because I have been waiting for this and even though its a weak signal , it is a signal. I have gotten more defensive on my de risk plan too though ....
I am taking profits on 1/3 at 1R and there I will switch to BE stop .... then will cover another 1/3 at 2R , then sell the rest on a close above 10/21 ema's.
Stop 147.01
PT 133.49
Note
Defensive move on stop to BE this morningNote
sold 1/4 at 1R today .. BE stop on balanceNote
covered more at 1.5 R today , down to half . stop adj to 139.37..Trade closed: stop reached
Balance closed out on friday via protective stop
艾力克~
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.
艾力克~
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.