UDSWTI - Range Trading
Updated
AB is the Range confirmed by CDEF pivots. E and F are just the push backs as they are not broken yet and hence counts as pivots inside range boundary. However when E or F is broken below are the expected scenarios .
Scenario 1 : Acceptance - Orange arrows
Break and Acceptance of 'E' will give a Long setup
Break and Acceptance of 'F' will give a Short setup
Scenario 2 : Unacceptance - Green arrows
Break and Unacceptance of 'E' will give a Short setup
Break and Unacceptance of 'F' will give a Long setup
Scenarios marked on the chart are Simple pullback price movement pattern, but price could also turn into Complex pullback. However Bias remain same in both case.
Note: The decision to enter a Long or Short based on Acceptance or Unacceptance will be done only after the priceaction observation post break of Swings 'E' and 'F'.
Scenario 1 : Acceptance - Orange arrows
Break and Acceptance of 'E' will give a Long setup
Break and Acceptance of 'F' will give a Short setup
Scenario 2 : Unacceptance - Green arrows
Break and Unacceptance of 'E' will give a Short setup
Break and Unacceptance of 'F' will give a Long setup
Scenarios marked on the chart are Simple pullback price movement pattern, but price could also turn into Complex pullback. However Bias remain same in both case.
Note: The decision to enter a Long or Short based on Acceptance or Unacceptance will be done only after the priceaction observation post break of Swings 'E' and 'F'.
Order cancelled
Disregard the entire idea as i missed considering certain pivots prior to A B .
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