Ticking time bomb this is, get ready and buckle up for the ride.
Ticking time bomb this is, get ready and buckle up for the ride.
Short for a quick profit, then go long... on PA of course facebook.com
Looking to target 1305, then possible 1295. See how PA reacts at 1305. Follow me on Facebook: Facebook.com
Inverse head and shoulders, PA forming at shoulder line, taking the trade if the high is broken.
This is counter trend, so it is defo a risky trade giving the momentum upward, but we have to make a retrace at some stage, and this could be it...
If the high breaks, it is possible we will continue up to 22.4, if the low breaks, then down to 21.
Taking this long position based on a price action signal I see, will be entering on the candle break.
This will retrace quite soon I think, and I am waiting on a retrace, to about the $1290 area, if there is no retrace, it could blast on through the 1320 handle. I am not loading up more long positions until a retrace. Took risky buying in such a hard move unless you use an IB to enter.
This is what I am waiting on to happen before I take another short position. I am waiting for price to rotate back higher to resistance so I can load more short positions.
Selling this based on the evening star signal. I will try and enter on a retrace using H4 or H1.