My tight stop loss: $266 (≈5% loss).
Target: 1. $325 (RR ≈3.2) / 2. $340 (RR ≈4.3) / 3. $360 (RR ≈5.7)
• We had a higher high at §319.
• increased after the weekend.
• Rebounced at $272 (.5 of swing).
• We should be in wave 5 which can bring us into the $360+ area.
This is no recommendation.
It´s just my personal result of my analysis.
Do your own research.
Comments / opinions most welcome!
CM RSI 2 in 4 hour chart confirms increasing volume.
This could be a good combination if people now not sell off.
But volume is good and U.S. east coast will join us soon.
Bed time of Japan/China had not much impact today. Impressive.
Next fightings will be between $303-308.
Sold 70% of my position at $343,5.
Will rebuy in area $300-310 if price goes there.
If it not will be reached the 30% rest will do the job.
Next target is $360.
My stop loss is now at $295.
So therefore the 30% rest of my position had less profit than possible.
But I got in at $280 a few days ago. It´s still a 5% profit.
The main part of my position I sold at $343,5 with a 23% profit.
No I looking for a new entry.
There are two options for me:
a) We will get another wave down to the 290-280´s. Then I go long in this range.
Stop loss in this case will be $275.
b) We break trough the $315-319 area what will be enough confirmation for me. Then I go long there even if it will be less range to my targets.
Stop loss in this case will be $295 like before.
My targets are actually still T1 $340 and T2.
But I am already in a good profit. So I let it flow to see what happens. ;)