I was looking at today´s price action and although there were enough R levels to justify taking the short, I am not sure if it is prudent given that it was going back inside the congestion area from the opening range. Any thoughts?
One question for oil traders. Why did it stop at 36 today, I was trying to understand that level as Support, but I just can't find a reason. Some help here would be appreciated.
%% Depends on your records, you do keep records don't you ?? I did my Dow short thru SDOW, daytrade + don't do that too much.I was real concerned about the last week in DEC, IBD founder doesn't like last week of DEC much. So sold some there; but as far as today, midweek, long...................................................NOT long TSLA, still have some junk silver don't need junkTSLA ;LOL-LOL
To be honest, I missed it. Did not have it marked in advance. The level is even more obvious on a 4 hour chart looking at it now. I am not a fan of these middle of the PA levels. Easier to trade the extremes IMO.
Thank you Every day I open the 15 min chart and look for trend lines that contains price. This way, i am aware of what can stop price from moving toward my target or against my entry. I do not have a technique, I just look for obvious lines that containing price.