Total market: - still bearish. not the best entry spot as index as found support, but price continues to bleed down. Daily: - breaking under s/r level, bears in control of momentum, daily rejection wick higher 4H: - next 4h candle close expected to be a BB break through support floor 1h: (entry) - strong bearish candle close w/ bb break thru support - that was my entry signal
Trade management: - expecting to hold this thru to take profit unless there is a solid spot to take some profits on the way down. Will be basing it on discretion Stop loss: 26.75 - above both support/resistance areas that have just been broken by bearish breakout candle, and above VPVR high volitility area Take profit: 20.99 - at daily support level giving me a 2.5R
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Closed with loss, bulls defending 4H support zone, total market price action reversing to upside. Doesnt look like we will get a hold of broken support on upcoming 4H close