This rally has good momentum and previously, i mentioned I only take trades when the candle formations are within the zone.
Now, at 61.8% retracement, there is a good case when I always use risk to reward to confirm possible setups. Although i am
planning to short, it has to be in my favour. I am using a longer term 4 hour time frame to trade so i'd look out for lower high,
lower candle on the 4 hour chart, must be within the zone and place a stop entry below that candle.
ノート
FYI, actually my entry method is dependent if i'm trading patterns or market structure. For patterns, it's always fixed but for structures, i take into account the momentum and volume taking me to the zone.If, it creeps up slowly with low volume, i may decide to enter on 61.8% instead of waiting for a lower high lower low to form in the zone.ノート
I'm preparing to short, wont chase it. I'd like to see it pop up to 2445 area and above. Currently it is selling off after bad housing numbers.ノート
It is right now popping back. I'd be looking at 1 hour chart for my lower low lower high close.ノート
Entered on 2443.5. Target is at 2436.75. 2nd target is 2426.ノート
First Target has been achieved and stop is moved to breakeven.トレード終了: ストップロスに到達
Spiked and stop out break even on remaining position.
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