CL Redux

I just bought .80 and sold it right back.. buyers strong but not willing to push it up just yet apparently.

 

I saw those too. At .40 and then .30 around the 1H channel line.
But it did not hold after all.

 

Some say the secret is all in the wrist -
I say it's all in the nap!


an alert on Ninja woke me up!

 

Despite the buyers not wanting to take it here, this looks like a decent enough bottoming area to me. Wish I had held the .80 at least to here.

 

order to sell 1 at 82.58

 

nice bounce off of L4. i'm guessin that's where the support's gonna be for today, between 81.50-.70. S1 is around 81.54ish.

 

canceled order to sell

no positions or open orders

 

well, like a hot knife thru a butter. should be an interesting overnight trading.

 

What is L4? Incidentally my daily S1 is 82.00, but that's based on ETH HLC, using settlement as close. I bought 81.80 as that's the weekly pivot and just below weekly vwap, and we got that decent bounce but sellers too cocky.

By the way DC when you do your fade trades which often work well, are you typically entering on the second push to the level? Like when you longed .46 earlier, are you waiting for some support first and then putting your order in just above that?

 

L4 is a Camarilla pivot point. sometimes camarilla pivots and standard pivots line up closely and can provide decent support but as you saw it wasn't the case today which is actually on the rare side.

for my fade trades, yes, i try to get some kind of a confirmation. as i mentioned a few weeks ago i use pivot points, fib retracements and harmonic patterns. the trade at .46 was a combination of these.