CL made a HH, which while current trend is up, can be traded short for a scalp. We don't watch the trade all the time, but we do see resistance is forming. Although not shown and not always correlated, ES has already made a LL. We stay patient although I did raise my target by 1 tick, I could have left it alone. We don't chase ES which is falling. We wait and do something else till target is finally hit.
¿How to properly spot S/R?
- Thread starter PAAddict
- Start date
Hi, are you assuming that 52.63 is Resistance and shorting expecting price to reverse after that level is hit?
We don't need to assume. Since my target was hit, it was proven to be a resistance. Remember there is no such thing as 100% TA or PA. After trade was made, the % I was correct increased due to price not being able to break above the resistance that was forming and that other futures were falling.
E
Erin
If you know you are in a buy pocket we could look for an entry long...once we got that higher close it was the first chance we could safely take a long trade
- at least that is how I try and find my entries
Great thanks for sharing. I am still holding the Short until I see a change in trend in the hourly.