Here is the chart.
I have a 40 pip stop. It is a little loose but I am looking for 200 points profit.
At $10 a point thats 2k in bookings. I am already in the profit 50 points.
My decision was to short this for 3 reasons.
1.) Trend is down on daily.
2.)Momentum is strong.
3.)Tested Pivot point level.
My target is the pivot point support 1 ; however, if I see any indication of reversal I will start selling off my position.
The first live trade in a while, lets stay positive even if it doesn't turn out as expected.
2 comments:
excellent short. I wish all charts looked like this. I also love how you had a game plan and are executing around it. keep it up OT.
Thanks Stewie. Ive taken 50% off the table so far for a good profit and will slowly dump the rest of it. Stochastics are looking a bit tender.
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