Hi, traders!
Today we will consider the chart not so simple as usual.
If you follow the posts closely, you will notice that I have started to give you papers that differ in trading style from the original ones.
In the beginning there were simple breakout models with accumulating positions, as you can see,
even in such an uncertain market they worked out at 70-80%, then I showed you false breakout models - and they work out very well too.

But trading is not as easy as it seems from the first time.
For those who want to make progress I will show you a new model based on the previous day high .

So, let's look at the chart:

1. Paper has bought back all the fall that was formed during the crisis.

2. From 16.04 to 22.04 the instrument closed the gap, which was formed on 24.10.2019.
There is a rule that sooner or later the gap should be closed, however, no one knows when it will happen: in a month,in a year or in 5 years.
Some papers can not close the gap for ever.
Well, closing the gap is a very strong signal. And here we clearly see a key lone player.

3. Pay special attention to the paranormal bar on 20.04.2020.
As you know, a paranormal bar has strict definition rules that depend directly on the ATR
The opening happened with the gap down.
It means that a strong short player created an imbalance of forces, there were more orders to sell than orders to buy.
The price at the moment collapsed below 38.36.
Ask yourself the question: what should have happened at that moment?
Let's turn on the logic. Naturally, the SLs of small retail long players should have triggered and the price should have fallen even more, however, this did not happen. Their sales were bought back by someone bigger. Here's another signal for us.
Pay attention to the level retest the next day. Here's another signal for you.

4. Since 08.05, the paper has been sideways for dialing positions and the support level was the level of July 2019.
5. At the last trading session we updated the high of the position set, the price slightly rolled down and stopped close to the high.
Think, what does a person who buys a position, for example, for a large fund?
If you need to overcome a strong level that is ahead, what would you personally do with the price?

I'm leaving the position at the long list.

I can't advise you the enter point or exit point. After all, it depends on your trading strategy and trading scenario.
I hope you have them. If not, I can help you make them.

Analyze the chart and Trade wisely! and you will not get extra stops and the number of your successful deals will rise to 70-80%.

P.S. Pay special attention to the phrases I have highlighted. They are very important for understanding the market..
Comment: Direction is determined correctly! no enter point today
Trade closed: target reached


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