15 Minutes
We had LH LL, so trend was down. We were expecting 451 levels.
As usual the gap will take out our views.
Any way the first 15-minute bar high was 453.52 and low was 452.34.
Trading is all about following our system to the dot. rest is just noise.
The buy above as per table was not triggered. The system is when the trend is down and
Now we are bac to our moving averages.
We shall take two Fib numbers.
First 456.92 to 449.35
Second 453.52 to 449.35 (from day high).
For the second Fib the 61.8% retracement is around 452 level and for the first one 454 levels.
Those two levels give you another chance to short.
This is supported by
For the moment i expect a good support at 447 levels s hourly 200 is around those levels.
So, in this proposed additional short I will be looking for 3-4$.
If no gap at open, we have good Low risk high reward (LRHR) trade setup.
Buy 450.5 for 453-454 SL 449.3.
$1 for 2$ reward is minimum I see in this setup.
For the day i expect 447 on downside and 454 on upside range to be maintained.
Komentarz:
Gap down. Buy trade setup nullified.