In a previous chart I indicated a $40 pause and bounce in CLF, well that's exactly what happened. Now, readying for the next leg down. Note to self: Scale in PATIENTLY!!!
Trade active
Sometimes... they'll be days like this. Notice I emphasized "Scale in PATIENTLY!!!" in my note above.
Sooo..., I added to my long here. I think this is a gift in disguise.
Trade active
So it hit the 0 level on the fibonacci. Also, on it's way down you can see the pause on the 1.236 fib level. You'll notice there was indecision and a struggle between sellers and buyers. Sellers prevailed, hence the flush to the 0 level. Lot's of stops being wiped and weak hands eliminated. I'm still in the trade.Trade closed: target reached
Shot nicely thru my targets 1 and 2... BoOm!!!
Related publications
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.
Related publications
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.