This is a tutorial in how to enter a trade on the 1hr time frame. We expect a higher high followed by a lower high (ABC if you know Elliott Wave)
and we buy the second dip, we set our stop a few points below our buy zone with a maximum of 1% loss. Here I just speculate were the buy could happen
as the 200MA hourly often acts as resistance. So do not use this as an exact template of levels for buying this is only an idea. What we want to see is
a bounce off the 50% RSI or the Stochastic moving out of oversold 20% upward. And more importantly the ABC pattern.
and we buy the second dip, we set our stop a few points below our buy zone with a maximum of 1% loss. Here I just speculate were the buy could happen
as the 200MA hourly often acts as resistance. So do not use this as an exact template of levels for buying this is only an idea. What we want to see is
a bounce off the 50% RSI or the Stochastic moving out of oversold 20% upward. And more importantly the ABC pattern.
Comment:
I will be staying out of the indexes for now.