Long

Long entry. Here is why.

Updated

(Past performance is not indicative of future results. This is by no means a signal - trade at your own risk.)

I took a break from trading last week to set this up. MACD and CCI both indicate a reversal - even if short term - it could mean a bit of profit. Price has finally broken through downtrend (light blue line) almost perfectly at the Pitchfork projection. While price may continue to drop ultimately, the probability of it retesting the 61.8 line at least once more before either plummeting (or skyrocketing) is looking pretty good.
Time will tell, friends. Time will tell.

Here are my personal entry numbers.
Will update this as I go so you can all laugh at me or laugh with me all the way to the bank.

Resolution: Daily
Long Entry: >108.25 by 3pm Friday. (9.50/contract)
Potential TP: 107.90 - 108.00
SL: 105.90 - 106.10
MACD, CCI, Median, S/R, Fib and Breakout all with standard settings.

Note

Priced reached a 107.29 in the past day and is now moving back south for a retest. Overall, the market is asleep. If you had pulled profits at the tip of this, you might've been okay depending on your bid price. I'm holding on though; there's 3 days left in the week.

I'm considering daily short spreads to get back my contract money until a (hopefully positive) expiration on Friday.

Stay tuned.

Current P/L: $-8.75

Note

Well yall, I actually broke even. I sold a binary option on Wednesday to cover the cost of my original entry and by Friday I was back where I started. (Technically, I made .50 cents in a week lol) So I win.

All in all, this week was full of ups and downs. I'm more of an active trader and this is the first time I tried holding out for 6 days. I'm usually trading every other day and I saw many great opportunities that I failed to grab because I wanted the first prediction to be good, even though it wasn't.

Next week, I'll have another update on this potential bounce as many people seem to agree with me. As always, have your Plan B in place.

Current P/L: $+0.50 lmao

Note

Round 2. Trading ahead of the news. Same strategy and this time I'm combining it with spreads to ride a possible range.

Note

Entry for this week:

Long TP set at 107.25 (Weekly)
Short spread entry at 105.89 set to expire tomorrow at 3pm as my back up plan.

Depending on the way things go, I may either continue the spreads to make up losses or sit on the long shot.

Current P/L: $-5.50

Note

As expected the dollar is climbing a bit higher today. Good outlook but not good enough - I'm keeping a backup spread on the downside of 106.50 just in case. Let's see how the day carries on.

Current P/L $+2.50
(That's almost a whole burger.)

Note

This market is virtually asleep. Not a bad time to hit the 5-minute Binaries...

Just saying.

Note

Nasty backfire on the the long term goal.

I basically did nothing but damage control in the last 30 minutes on the 5 minute binaries. I almost got my money back. If you know how to scalp, now it's a great time. This pair is literally sideways.

Current P/L: $-8.25.

Note

P.S: I got a Long, $11 spread praying on the daily retest. No guarantees though - I've been shorting this market since 9:40pm on the 5 minute.

LoonKnight

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