Pretty simple. Im looking to catch a quick 3% drop tonight/tomorrow morning. Assuming it goes down from current price, 10550 looks like the most likely target support. The retracement is based off daily candle closing positions of recent low and high over the last few weeks. Appears like it could be printing out a head and shoulders formation, seen in smaller time frames. This trade can get invalidated very quickly and easily, im not advising anyone makes the same trade i do, simply sharing my idea for tonight. If you do something similar i advise a very tight stop-loss as this could also get pumped 3-4% just as easily, or range for days to come. better to watch closely and trade the breakout, whichever direction that may be. too easy to get chopped up in the range. After 3 days of getting rejected by 11000 a small correction to the .5 makes sense, doesnt mean it will happen but its highly probable at this point so im willing to take a tiny risk to grab a potential 3% overnight. I use small amounts of money in my trades with 5-25x leverage, for reference on why id make this trade. wish me luck.
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waiting and watching this pennant. from my experience big moves tend to happen around 11 pm pst and 4 am pst, when im sleeping haha. ill be looking for a break either direction and a larger move close to 5 hours from now. see what i can scalp off it. right now its dangerous to choose sides.
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broke the pennant upwards and did a little run up starting at 4 am pst, its too bad for me im almost always asleep for the 4am volatility, theres money to be made scalping it! ill sit back and watch for now.
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moving forward, sorry about the color overload just want to make sure people see this repeat of pattern!
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uncanny