GA formed an m formation and is going to bounce off of the support line again
1. The market has made a repeating structure that I think the market is going to repeat again. 2. The market has also been retesting the 0.5 golden zone on the Fibonacci a lot so there is a scale in opportunity to scale into the trade once the market breaks the 0.5 institutional line. 3. Also the market is trading a range and has recently tested the bottom of...
GA LONG , BOTTOM OF THE BOLLINGER BANDS HAS BEEN HIT AND THE MARKET SEEMS TO BE REPEATING ANOTHER MOVE UPWARDS THAT HAS OCCURED 3 TIMES TODAY
Retest of the trend line is the level that we would set the take profit for this trade.
EXITED TRADE MANUALLY BEFORE TAKE PROFIT FOR 3K PROFIT 3 POINTS OF CONFLUENCE: 1. THE MARKET WAS TESTING A LEVEL OF SUPPORT 2. THE MARKET HAD FORMED A FLAT BOTTOM WEDGE PATTERN 3. THE MARKET HAD FORMED A DOUBLE TOP RECENTLY
THE MARKET HAS TESTED 0.5 INSTITUTIONAL LINE AND IS COMING BACK TO TEST THE GREEN KEY ZONE OF SUPPORT. THIS WOULD RESULT IN A DOUBLE BOTTOM FORMING.WHEN THIS HAPPEN THAT MRKET WOULD HOPEFULLY REVERSE OF OFF THIS GREEN LEVEL AND COMPLETE THE W FORMATIO. HOWEVER THIS TRADE IS ONLY VALID IF THE REVERSAL HAPPENS FROM THE GREEN KEY LEVEL OF SUPPORT