Learn to be a Scalper - page 19
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Let's see how the daily candle closes here today.
You can see that pressure is slightly to the downside, and we have had a nice move up recently.
By the looks of it now, I would expect a Doji forming today, giving a possible 2nd day of consolidation before the next breakout that should happen.
I would expect when the move begins, that the possibility is slightly more to the Lower Target, just my opinion on the looks of the chart.
Either way, trades are always available within the 1hr/15m/5m/1m charts.
I will post updates on the daily after the closing of this candle around 5pm EST.
Going out for the day, see you in NY Close/Sydney.
Cheers.
This last leg down had +20 pips on it.
Theres a pin bar at 1 min at psych level.
I'm in long.
The pin bar didn't work.
got -3 pips on that one.
Another test at 3900.
+10 pips.
Nailed that retracement to the 38% Fib level.
I'm still overtrading.
Seemed to be gaining strength to go test 50% Fib, so i entered.
The trade soon reversed against me, but i closed it for -3 pips.
I'm not being selective enough.
Check out my trades.
This last one gave me +13 pips.
I overtrade as hell.
I have to calm myself and not jump at any move that has a small expectation.
Got -3.5 pips on the retracement.
This kind of trades are my worst.
I never seem to get them right. It's a 1 in 5 win.
I guess the idea of trailing my stop by hand is too tight to get these.
This sideways market has lasted for 2h.
The bias is upwards, but for that to happen we still have to see a local swing high, followed by a higher low.
I'm pointing for that swing high to be at 3888.
Guess I was dead wrong.
The move had continuation.
Now waiting for rejection on the 3823 - 3835 area.
Note: this is the 15 min chart.
On this last move down, I took 2 long entries.
I had placed the target higher, but seen the stall on 1min, so I exited both of these entries at 8 pips.
+16 pips.