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OK, so the day has been in a serious consolidation area all day because yesterday was a huge runup. So today what I’m looking for are breaks in that consolidation and right here. This was the very first one because I’m looking at my lowest point, which was around here after it gets broken.
I look to enter after a good break and this is my 20 period. E m a line I usually like to have it at one point for my first target. And also, I am looking to enter because I love this trade. I think it’s great.
It’s showing a lot of movement to the down.
To answer at my main line, which is the 52 period EMI line on this particular chart for today.
So my first target is right here, it’s at one point after it breaks, after I get filled here, I’m leaving it to go further. And this is my this red line right here. This is my stop.
So once I get filled, I move the stop to break even this way.
If it doesn’t continue, I don’t lose anything. I already made my profit.
And there is some serious strength. So now I’m just going to wait for it to fill me here. This happens very normal when you touch, touch, touch, and sometimes it doesn’t get filled. Which really sucks, but you know, it is what it is. This is where my target is. Great. So now I am going to move this over right here and now I’m just waiting to see where this goes.
I’m gonna be keeping it at.
Break-even right now, if I go back, I already have my prophet. I’m good. So right now, I have to be honest know I’m kind of contemplating this entry right now. So I’m going to just take it out because what I am noticing.
What I am noticing right now is divergence on the MACD’s.
If you could see here the price is running lower. But this is definitely in showing me that there could be some hesitation. So I’m going to just hold off on this for now. So this kind of divergence and I’m seeing that the Mounties are now starting to turn and there’s some consolidation. I might even want to just take an early.
An extra. When? So what I’m doing now is I am moving my stop to here. This way, no matter what, I get extra profit because at this point I need to see this little consolidation break. If it breaks that, I’m going to go for this target. If not, I’m ready, I’m good with taking a little bit here.
Because it does not look like it’s going to continue to further down. But that will give me a good point and a half, which is quite great.
At this point, point and a half, it’s over. It’s almost 100 hundred bucks, so I’m good for a five minute trade and definitely looks like it’s about to retrace. So retraces it could retrace much deeper and look at that. It’s turning. Yeah. I’m not a fan when I start to see divergence.
Yes, it’s definitely turning back around.
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OK. You see, I gave it a little bit of room, so now I’ll see since I’ve already got my profit in at this point. I don’t care what happens because that’s the most important thing. Once you remove the stress of it, you’re good to go.
So let’s say this might actually now break and head further down. And there you go. It did a little bit of a break. So at this point, I’m ready to move this down even more. If it retraces, I’m going to give myself a little bit more of a profit. In cases like this is useful that you know what a SSR is.
So let’s see how strong this is, because right now the Maxis are showing me that there isn’t that much strength in this particular trade.
It’s really slowing down, even though it looks like it’s continuing further here.
And there you go. It broke a little bit more. I actually might even push this down further and bring this to the less pivot and this point.
At this rate, I’ve already got two points going on. If I get stopped out right there.
Okay, so now just sit and wait. Okay. So basically what happened is it stopped me out. And here we go. I’ll show you how much I ended up. OK, so here we are. I entered here.
My first out was right there and my second out was right here, so I had two contracts.
So I had two contracts and I made one point with each one-point equals fifty dollars. Two contracts equals one hundred dollars.
So in less than ten minutes for one trade, I came out with two hundred buck with one hundred dollars.
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