Now that Monday has finished trading, I have a better idea of what is likely to happen.
Price is looking like it is in a 2 legged pullback to find the next higher low.
Price has been inside of a bear flag since the 27th
I will be looking for shorts on Tuesday and Wednesday down into major 1 hour support for a new higher low.
My stops are always 30-40 ticks with targets varying between 65-85 ticks
I trade in direction of the 15 minute higher timeframe with the 5 and 3 minute as entries.
If the bullish trend will continue, then it needs to find a higher low and then break higher to a higher high. I will be looking for 39,500 this week hopefully as the higher high
Price is looking like it is in a 2 legged pullback to find the next higher low.
Price has been inside of a bear flag since the 27th
I will be looking for shorts on Tuesday and Wednesday down into major 1 hour support for a new higher low.
My stops are always 30-40 ticks with targets varying between 65-85 ticks
I trade in direction of the 15 minute higher timeframe with the 5 and 3 minute as entries.
If the bullish trend will continue, then it needs to find a higher low and then break higher to a higher high. I will be looking for 39,500 this week hopefully as the higher high
One was a loss, a bounce off the 200sma
Two was a win with a flag pattern
Both used 35 tick stops and 70 tick targets