Hello fellow traders
Greetings from team Trading The Tides
lets talk about Woo which we been trading for the last 3 days and made around 30% in profits .
today as the FOMC is really close and there many crucial Data down the line .
First of all specifically today I don't see much buying in WOO , secondly Woo is creating more and more resistance to the upside , which make me think not to trade woo until it goes back to support and on atleast 15 min time frame creates a wick which in other sense gives idea about institution getting in to take the prices higher , so I will wait till then .
My second opinion about woo is to break the lows of the symmetrical triangle on 4h , 1h
and then we can plan a short trade again on the basis of breakdown structure with proper risk n reward .
I don't take more than 2% SL so if the trade goes opposite , I will accept the SL and look out for other opportunities .
Note :
I am just a technical , fundamental analyst and day trader .
Any info given is not a financial advice , i am only posting what i think is right , feel free to guide if u think i am wrong plz .
Thanks .
Greetings from team Trading The Tides
lets talk about Woo which we been trading for the last 3 days and made around 30% in profits .
today as the FOMC is really close and there many crucial Data down the line .
First of all specifically today I don't see much buying in WOO , secondly Woo is creating more and more resistance to the upside , which make me think not to trade woo until it goes back to support and on atleast 15 min time frame creates a wick which in other sense gives idea about institution getting in to take the prices higher , so I will wait till then .
My second opinion about woo is to break the lows of the symmetrical triangle on 4h , 1h
and then we can plan a short trade again on the basis of breakdown structure with proper risk n reward .
I don't take more than 2% SL so if the trade goes opposite , I will accept the SL and look out for other opportunities .
Note :
I am just a technical , fundamental analyst and day trader .
Any info given is not a financial advice , i am only posting what i think is right , feel free to guide if u think i am wrong plz .
Thanks .
Comment:
forgot to mention , for a good long setup 0.243-0.241 is a better price to go long for now
Comment:
on 5 min head n shoulder is forming up , which means not a good idea to go long at this support now
Comment:
as mentioned , price is falling quickly , lets wait for the fomc , price action is pretty clear , no longs until a powerful wick , no shorts until fomc .
simple plan
simple plan
Comment:
ok guyz the market is at strong support , lets see how it plays out
Trade active:
initiating my short trade at 0.27 - 0.275
3x lev
3x lev
Comment:
Short Trade is in small loss I will DCA at the peak level 0.3
Trade closed: target reached:
took the profits at 0.27670