NANO: Support Buy

Decent NANO setup:

Support tested for the 2nd time, unbroken.

Upticked RSI on 2nd overall test and 3rd if you count the smaller re-test.

MACD histogram just starting to tick up. Should look at lower timeframes for buy confirmation.

You could ride this to at least the known resistance for a cool 13% gain.

Trade active

Nailed it. TP1 shown here.

Note

Revised TP:

Wanted to tell you ASAP but I had to execute quick. Day trading is very fast paced

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Buy targets. I don't have time to explain much since I'm actively monitoring this, but hopefully you can follow at this point that my strategies are:

1- MACD for lag confirmation
2- RSI and Histogram for realtime divergence (higher high but lower indicator high)
3- Fib for targets

Note

All buys filled. Bullish diverging RSI, incoming MACD Cross and upticking Histogram; time for wave 5.

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Keep in mind this can always dip to the 0.786. No reason to sell there, your R:R should still be 3+ if you have laddered your buys.

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Someone just tried to kill a bunch of stops. Hopefully you set them below the 0.786 like I recommended :)

Trade closed manually

Lower high on RSI and broken trendline caused me to sell. Pretty much breakeven on this second leg, and 3.5% on the first.

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That was a truncated fifth wave. Those are always tricky. Definitely some lessons learned here.

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Hope you got out. This was a decent trade (3.5% net) IMO but a very volatile play, and it required tons of attention. This is why we have stops.

Closed.

It's important to note down our mistakes and try to find solutions for the future, even if we made a small profit. Gotta learn something, otherwise this is all pointless :)

mrahme97

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mrahme97

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