DOW US 30 Short: Perhaps A 'BAT'
Updated
Hello Fellows!
I hope you are all swell!
The previous entry was triggered a little above the D point of the 'Butterfly' that I had published and went down quickly only to stall at 30-40 pips. It bottomed out at around 70 pips before returning back at entry to trigger the S/L which was moved at break-even.
Now, the situation is such that a 'BAT' pattern is also forming, nearly completed. If the price touches the D point, which is an 88.6 % XA retracement, and reverses, we might very well have the beginning of the second leg of a WIDER 'Butterfly' which will be on its way towards ITS D point completion, way down! More on that later.
For now, let's hope that the 'BAT' does its job correctly.
Entry will be at the 88.6 % XA retracement roughly around 39,160-39,200 area (varies by chart)
with S/L being right above the X point (approx. 39230-39280).
As for T/P, I would suggest to hold if successful, bringing stops to break-even or something, as it might just head towards 38,300 given that WIDER 'Butterfly' is completed.
Take care, trade safe and stay dandy!
Note: The information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
I hope you are all swell!
The previous entry was triggered a little above the D point of the 'Butterfly' that I had published and went down quickly only to stall at 30-40 pips. It bottomed out at around 70 pips before returning back at entry to trigger the S/L which was moved at break-even.
Now, the situation is such that a 'BAT' pattern is also forming, nearly completed. If the price touches the D point, which is an 88.6 % XA retracement, and reverses, we might very well have the beginning of the second leg of a WIDER 'Butterfly' which will be on its way towards ITS D point completion, way down! More on that later.
For now, let's hope that the 'BAT' does its job correctly.
Entry will be at the 88.6 % XA retracement roughly around 39,160-39,200 area (varies by chart)
with S/L being right above the X point (approx. 39230-39280).
As for T/P, I would suggest to hold if successful, bringing stops to break-even or something, as it might just head towards 38,300 given that WIDER 'Butterfly' is completed.
Take care, trade safe and stay dandy!
Note: The information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Trade active
Sell limit order triggered @ 39,220.2.I hope it all goes well!
Trade active
Running at around 30 pips in profit!Trade active
Running at 50 pips in profit!Trade closed: stop reached
Stopped out at 39300! :/
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