Sorry no time for a write up. I just got long at 1.885 Target 1 = 1.1969 Target 2 = 1.2020 (Think this has a chance also) Good Trading everyone. DRT I was short into this down move.
Thanks for the volume info everyone. Not sure what happened, but it did not appear until yesterday on my TradeStation platform. Go figure. I am long based on what I see for now. Still more downside, but long for now.
If you are inclined to be long, at good set up would be for price to pass thru the 1.1907 level. This is key. You could get long immediately with a tight stop, or you could wait for price to push thru this area strongly and then buy a pullback to the 1.1917 ish area or below. It will be a fight no doubt and I will exit if it gets bad. DRT
10:35 AM EST Price is at 1.1901. Another good entry for this trade will be at 1.1890 if price moves back down and holds. It may not move down again though. This entry is not for the weak of heart.
11:23 AM Price is now at 1.1916. My guess is that it will surge to 1.1929 and back off to 1.1917 or 1.1907. This is another entry for a targets of: 1.1969 1.1997 1.2020 Good luck from here and be careful for lurking sellers
Just an FYI- I am going to take my entire position off at 1.1969 area. Actually, I will watch for the spot price to go into the 1.1945 area. I think price will retreat here. I will re-enter long on pullbacks to the 1.1969 area though. I will update my progress. Clear as mud. DRT
11:48 AM Sorry for all the posts. But this is occrring now. Look for an entry around 1.1914-17 if you are inclined to be long.
Congratulations on some awesome calls throughout the day! Quick question: was your decision to go long at 1.1885 based on the volume divergence between the first big spike down (to 1.1879) and the second that went to 1.1882 about a half hour later? Keep up the great trading!