I took a break from trading last week to set this up. and both indicate a reversal - even if short term - it could mean a bit of profit. Price has finally broken through downtrend (light blue line) almost perfectly at the projection. While price may continue to drop ultimately, the probability of it retesting the 61.8 line at least once more before either plummeting (or skyrocketing) is looking pretty good.
Time will tell, friends. Time will tell.
Here are my personal entry numbers.
Will update this as I go so you can all laugh at me or laugh with me all the way to the bank.
Long Entry: >108.25 by 3pm Friday. ($9.50/contract)
Potential TP: 107.90 - 108.00
SL: 105.90 - 106.10
, , Median, S/R, Fib and Breakout all with standard settings.
I'm considering daily short spreads to get back my contract money until a (hopefully positive) expiration on Friday.
Current P/L: $-8.75
All in all, this week was full of ups and downs. I'm more of an active trader and this is the first time I tried holding out for 6 days. I'm usually trading every other day and I saw many great opportunities that I failed to grab because I wanted the first prediction to be good, even though it wasn't.
Next week, I'll have another update on this potential bounce as many people seem to agree with me. As always, have your Plan B in place.
Current P/L: $+0.50 lmao