Not taking a short, but there is a D1 bearish engulfing, I will be waiting for price to rotate lower then look for long positions
I have sold this due to historic reasons. Check the screenshot - puu.sh This is the DJ30, can't find the S&P screenshot, but both nearly the same...
I am not trading this as the R:R is bad and against the trend, but its whats gona happen...
Waiting for price to move back up before I add more short positions. Stoploss for 1st position is at Break even and some profit taken, will wait to short again at 0.87622 area.
Selling this based on an H8 pin bar at daily resistance. Daily is also below the 8 and 21 EMA's
Possible area to look for short positions at
Long on this bullish engulfing, used an H6 signal to enter for smaller SL and better R:R.
1265 area, then possibly back to 1255 area where I will be looking for PA to go long again.
I think this will hit $1260, looking at weekly, monthly and daily charts, it adds up. A double bottom has been put in on both daily (Last few weeks) and weekly chart, last time we where at 1180... This could have a possible target of around $1380, but that's just a guess. For now, I think we will continue up and break the down trend line on the daily.
Get long, and bank! TP 1 - 1241 TP 2 - 1265 SL 1220
This is what I have been waiting on. A reversal to the downtrend line. I will load a small sell position once I see a break of the pin bar here on H4, then TP at 1220 to be safe. 1220 I will start looking for PA to position myself long to 1250, I will close out 3/4 of my long's there, and if I see PA to go short, I will do so, while holding the last 1/4 of my long.
Today price dropped big time, but was rejected right away forming a daily pin bar. I will be taking this as a buy signal as it is rejecting the 8 and 21 day EMA's. Final TP is 110, with SL below pin bar wick and I will move to BE once 105.50 has been broken and trail my stop 2 daily candles behind.