Keep an eye out, some down action starting soon. All the stochs are peaking at the top. Will update shortly with an entry.
My entry will probably be around 231.00 Just waiting for the stochs to start coming done on 15/30. See how much higher it goes first.
Here's a good example of patience. The price is spiking and we know it will go down, so it is so tempting to jump on the trade now and try to grab those big pips when it reverses by going short. However you notice that the 15/30 are still climbing and could push into the 80's. This is where a lot of pips are made, so entering now could be a big big mistake. Better to be safe than sorry. You could enter and the price could take a 70 pip ride up still...which means you would be trading for a break even..yuk. Wait until you see the stochs coming down....don't worry about trying to cash in on the reversal.
The 15 is looking like it will start reversing, but the 30 and 1H still have room to go up. We are 10 minutes from the 15 minute candle closing so wait till it closes and re-assess. Any move down by the 15 might be a whipsaw and even if it does fall, it just means we wait for better conditions.
I have an entry at 231 to sell....if the market turns that should be a good spot to get in
My entry will probably be around 231.00 Just waiting for the stochs to start coming done on 15/30. See how much higher it goes first.
Here's a good example of patience. The price is spiking and we know it will go down, so it is so tempting to jump on the trade now and try to grab those big pips when it reverses by going short. However you notice that the 15/30 are still climbing and could push into the 80's. This is where a lot of pips are made, so entering now could be a big big mistake. Better to be safe than sorry. You could enter and the price could take a 70 pip ride up still...which means you would be trading for a break even..yuk. Wait until you see the stochs coming down....don't worry about trying to cash in on the reversal.
The 15 is looking like it will start reversing, but the 30 and 1H still have room to go up. We are 10 minutes from the 15 minute candle closing so wait till it closes and re-assess. Any move down by the 15 might be a whipsaw and even if it does fall, it just means we wait for better conditions.
I have an entry at 231 to sell....if the market turns that should be a good spot to get in