"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.
Prices are testing the breakout level along with decreasing volume downward. Will Wait for reversal to initiate long for target 492 (Double of Range).
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Will be waiting till this systematic selling phase finishes. will initiate long at channel breakout or test or breakout on 75 min chart.
Trade active
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INITIATED LONG AT 359.50
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Will ADD more at lower parallel of the latest upward facing pitchfork. Stop loss below 320.
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Demand line (lower parallel) respected
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At reaction line, may see formation of pivot here.
Trade closed manually
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closing long @410 for the time being, will take rentry after seing market structure.
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EITHER START OF SYSTEMATIC SELLING PHASE OR FORMATION OF TRADING RANGE. TIME WILL TELL.
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Market was in Trading Range and refused to enter into Systematic selling phase. Good News...Market is holding the gains. Bella Ciao....427...!!