The Dow dipped early this morning retesting a area of support along a trendline. Momentum is down, money flow is red on bigger timeframes. Expecting a retrace to the early morning bottom.
Trade active:
SELL trade at 34249.05
Trade active:
Hedge in place: Buy Stop 34330
Trade active:
Getting ready for a drop that leaves a gap to remove my hedge and put SL in profit.
TP 1 34223
TP 2 34146
TP 3 33993
TP 1 34223
TP 2 34146
TP 3 33993
Comment:
Hedge activated SL at 34332 for Buy Stop
Comment:
Sell Limit 34386 at Volume area high, good lesson to learn that I need patience to let price to come to me.
Comment:
Price is dropping prior to activating Sell Stop. Bearish divergence on the VuManChu Cipher B =+ Divergences indicator on the 1 minute time frame. Retesting new high, waiting for Sell stop or drop.
Comment:
Sell Stop Activated at 34386.05 (just above VAH)
In hedge with Sell at 34249. 05 and Buy at 34330.25 (SL 34332)
Remember: Do not close profit on the Buy, the hedge is to protect further losses.
In hedge with Sell at 34249. 05 and Buy at 34330.25 (SL 34332)
Remember: Do not close profit on the Buy, the hedge is to protect further losses.
Comment:
Sell at 34385.05 - move SL to profit 34383
Comment:
Second sell taken out at stop.
Comment:
Hedge reset Buy Stop 34330. Expecting resistance at original sell area.
Comment:
Moved hedge Buy Stop to 34345 to avoid trigger. And putting back at 34330 when feeling safe.
Comment:
Moved hedge Buy Stop to 34360. Pumping before it dumps (based on momemtum).
Comment:
Hedge activated and SL moved to 34361
Comment:
Hedge gone putting new hedge 34350
Comment:
Move Hedge to 34330
Comment:
Chart is testing the trendline now...breaking structure. Waiting for drop. Will move Buy Stop Hedge to 34300 when safe to do so. When Sell trade (34386.05) in profit. Delete Hedge Buy Stop and move SL into profit.
Comment:
Money flow on indicator mentioned above is now entering negative on the 1 min.
Comment:
Move Hegde to 34300 as price action retests my entry.
Comment:
Delete Hedge when Sell SL moved to 34240 in profit, after it drops below my entry and retests.
Comment:
Getting close to being able to move SL. Do be too early, wait for the drop or it will take you out. Buy Stop remains at 34330 just in case a pump. This is why you have to watch. So you can move SL appropriately or be stuck in a hedge.
Comment:
Was taken out too early so I got back in a Sell at 34245.85. SL at 34240. TP's listed above.
Comment:
Trailing SL at 34205 now, TP set at 34099
Comment:
Moved Sell SL to 34230
Comment:
Move Sl to 34240, want to stay in for drop if possible.
Comment:
Out of this trade, slight profit. Looking for new setup.