Will be long on a buy stop 4486.00
The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
Stopped in. Initial sell stop is 4471.00
Do you mind pointing out the reasons?
Going to hold on to this countertrend trade for just a bit here based upon the hourly, 15 and 5 time frames.
Romik (T) MACD signal along with RSI closing below previous trough. In addition, the early pump up and dump was not a healthy sign.
I have set a sell order for 4499.50. This is countrend in my view and I do not want to watch it like a hawk overnight. Sell stop raised to 4475.50
Technical analysis cannot predict how price will react to NFP tomorrow.
It could continue to go down, hit a key area and reverse.
It could continue to go down, hit a key area, react and reverse.
It could continue to go down, hit a key area and simply breakdown.
It could go up, hit a key area and reverse.
It could go up, hit a key area, react and reverse.
It could go up, hit a key area and simply breakout.
It could choose to take stops up and down and chop for a while.
The smart play here is to trade after the report is out as per most economic releases.
Sell order was hit overnight for 13.5 pt gain
This perceived trend change was not for today's activity around a report. This was a general trend change on the daily, not the hourly or 5 min. --