Short for Retracement

Seems like the structure for Wave C already completed.
It's swing 13hrs yet cannot break out $1220, try to short from$1216 to tg 1170ish.
But take care for the support:$1206 and $1192, and get the tg step by step.

Entry:$1216.3
SL: $1226
TP1:$1207
TP2:S1194
TP3:$1172

Комментарий:

Daily chart
So far, we only suppose that $1220 is the top of (A), but it is unconfirmed. After breaking out $1192, will confirm.

Комментарий:

Broke the wedge possible, going to retrace $1208-1206

Комментарий:

Get down~~~

Комментарий:

Hold on! Break out retrace done!

Комментарий:

sorry, ignore the upon wrong chart, the following is correct:

Сделка закрыта вручную:

1Hour chart a bullish signal appeared, so i suggest to close the short for safy's sake.

Комментарий:

15&30m bearish pattern appeared

Сделка активна:

Entry:$1216

Комментарий:

hit TP1 already:)
Since already broken 1206, will test 1193 next.
Still sell on rally

Комментарий:

daily chart, there's some support at 1187-1196

Комментарий:

The bearish Gartley has completed it's tg at fibo 2.618. Now be ready for the bounce. still sell on rally.
Resistant level:$1202, $1206-1208

Комментарий:

In 1 hr. chart, likely swing between 1200 and 1211.
Need time to swing down.
Watch the 3 resistant level in red box.
Price below MA55, sell on rally

Комментарий:

see this 1 hour closing,under or above $1202 resistance

Комментарий:

Still in range

Комментарий:

So far 1218 is the supposing Top of Wave A, unless it broken 1213 today.
Only when broken 1190, will confirm The top of Wave A.

Комментарий:

Now the price was blocked by resistant level 1202

Комментарий:

Price blocked by 1206, re-entered shorts at 1204, SL:$1213

Комментарий:

After 27hrs' consolidation, in 4H chart, there's support area in form $1198-$1204.
$1211 is the crucial resistance today, once broke out, will test $1220-$1222.
Fortunately, I took profits in last drop. So even if the shorts cut loss at $1213, I still have more than $5 profit margin in this strategy.
Profit and risk management is very important in trading, we're always facing the loss once we're in the market. It's actually very difficult to be the 10% successful traders.

Комментарий:

To tell a Truth:
My friend joined the National Future trade competition. He told us a truth that there're 40k trading accounts in this race, finally only 3.8k accounts yielding above 0%. Others are in loss. That means less than 10% traders are successful.

Комментарий:

4hrs chart,price blocked by 1209,and it's already swing 28hrs,time to choose the directions:

Комментарий:

Комментарий:

Комментарий:

Комментарий:

4H chart, range trading: 1196-1218

Daily chart, indicator tells the volatility is low, so, in the next 2days, scalping in range, or, better watch untill broke the range, would be safe for trading, IMO.

Комментарий:

4H chart still in range now, see red box.
can try a short for range scalping

Сделка активна:

Entry: $1215.7
SL:$1226
TP1: $1210
TP2:$1200-1198
TP3:$1172(Once breaking 1196)

Комментарий:

4 hrs' chart, indicator div.

Комментарий:

30m chart retested 1214-1215,then go u turn

Комментарий:

short for tg:1207& 1202 exit

Комментарий:

for short term scalping, already hit TP1: $1210
Then,it will take time to approach next two tg:

Комментарий:

bearish pattern in 15M tf, tg:$1214, $1207

Комментарий:

$1214 approached, then goes for $1207

Комментарий:

As I've mentioned 2days ago,"in the next 2days, scalping in range, or, better watch untill broke the range..."

Комментарий:

broke $1214 falling to next tg$1207

Комментарий:

heading TP2:1207 in short term.
For longer term tg: 1172 remain unchanged. maybe 1175 will exit

Комментарий:

the bearish pattern completed hit the short term tg 1207 perfectly

Комментарий:

since after breaking the neckline 1211, H&S pattern confirmed, $1203 exit.

Комментарий:

Likely go Zigzag retracement

Комментарий:

Updated!!!

Комментарий:

H&S pattern completed, short term tg:$1202 hit.

Комментарий:

Комментарий:

$1198-1199 exit, then wait for breaking out $1196 to sell on rally.

Комментарий:

TP2:$1194 reached!!
I took profits at $1194.34,and stay away. watching for today's close and looking for new entry in next day.
Good luck to you all!

Комментарий:

Комментарий:

It will need patience to hold the positions since the entry is a little bit early. And felt stressful to follow up with the trending closely with strategy, bcos not always so lucky. Finally found that the initial entry/TP/SL are almost the best one, which i almost forgot to the end -.-|||

Комментарий:

updated wave count,it is still down trend in short term.
watch resistance $1202,$1206

Комментарий:

revised wave counting. still waiting to sell on rally

Комментарий:

Updated wave count

Комментарий:

In this strategy, we've already caught $1216.3 $1215.7 entry, and 2 days ago, i added shorts when retraced $1207. The shorts were exited at 1194. Only missed short from $1202.
The retracement is a little bit deep as I expected before. I set 1194 as 1st TP, that is due to support at 1196 and i was afraid of a false break out at the first time.
Now,suppose 1184 is the end of Wave a, will need 1-2 days' correction for wave b(1192-1197), I plan to short from there, to wave c tg:1150. I'll keep update when trade active again.

Комментарий:

Daily chart price was holded by MA55, it is not a time to short, as my previous suggestion is 1-2 days' correction for wave b, just watch or scalping in short term.

Комментарий:

In weekly chart, it's a bearish engulfing candle, so i still persist to this short strategy,just sell on rally, unless long signal appeared on weekly chart.

Комментарий:

Fundamentals in next week(in Beijing Time):
Jan-31/Tue 11:00, BOJ rate decision
Feb-1/Wed 21:15, ADP
Feb-2/Thur 3:00, FOMC rate decision
20:00, BOE rate decision
Feb-3/Fri 21:30, NFP

Сделка активна:

i tried a short from1197.2 just now,my earlier shorts from1193was closed at1191.

Комментарий:

my enrty is a little bit earlier, 1197hit earlier than Tue.,that means higher risk for shorts. Timing is more important than the price.

Сделка активна:

i added shorts at 1201,SL1204.
exactly i shorted too early in yesterday,and TUE is the right time to go short,as the plan. Plan and action are one! I still cannot do it well.

Комментарий:

I shorted again from 1204.58