10:32am
The R44 spiral point was the ideal risk level @ 6516 today:- it also matched the Weekly 50% level (6516) and 3-day high (6512)
Yesterday the market moved 22 points against the trend before buying support came in, and today it’s done the exact same thing.
First trade entry 6517 (stopped 6509)
2nd entry 6509 :- partial exit 6525 and looking for a 44 point up move, using R22 range lows as entry.
Breakeven stops from entry @6510
I didn’t use the R22 lows yesterday because yesterday was a stall-reversal day, so I was more interested in trying to short the market from an R44 high, but today is my BUY day:- (random length)
Hopefully this move will continue upwards and not reverse down....
A failure of R22 highs from these swing lows @ 6526 and move back down to lows, will probably follow a down move lower.
I won’t be trading longs again because Risk has increased as it’s trading below a number of important levels….
Middle of the 5-day range can go either direction.
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