This is a triple confirmation on strategies from Streetsmarts...
1. Holy Grail is watching ADX it should be correcting only from uptrend > 30
2. Gap below yesterday's low then reversal recovery in morning at 35.10
3. 80-20 is yesterdays range opened in upper third, and closed in lower third; today's gap down then recovery of yesterdays low, buy > 1st hour bar > 35.25...hold until close or next day
4. technically there's an ABC style correction in a strong uptrend which tips probability that could recover multi-days even if miss low a bit ( call options could be considered if GAPS down to obvious target for C leg...as a re-entry method)
5. 6 days ago was a low, that is also beat > 35.35 showing another reason shorts may 'cover' or take profit...
1. Holy Grail is watching ADX it should be correcting only from uptrend > 30
2. Gap below yesterday's low then reversal recovery in morning at 35.10
3. 80-20 is yesterdays range opened in upper third, and closed in lower third; today's gap down then recovery of yesterdays low, buy > 1st hour bar > 35.25...hold until close or next day
4. technically there's an ABC style correction in a strong uptrend which tips probability that could recover multi-days even if miss low a bit ( call options could be considered if GAPS down to obvious target for C leg...as a re-entry method)
5. 6 days ago was a low, that is also beat > 35.35 showing another reason shorts may 'cover' or take profit...
Trade closed manually
After no follow through today - closed trade for a small loss of -0.25 c
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.