First trade on the RTH for today Long... I'll be breaking this trade down in detail as I did for my last trade on the RTH day yesterday, as the trade continues to roll.
As I stated in the Pre-Market, the market has a weird feel to it today, in my opinion.
I'll be treading lightly today or until the market shows me that I can lean into it a bit... 😉
So, with that being said....
'WHY' the entry at the 6010.75?
I was targeting an order entry in 'this range'. I came in on a Market Order, so my entry didn't have a specific price point... just the small range that I was targeting.
'WHY' a LONG position and not a SHORT position?
In the ETH or Euro Session the SSL was already taken out. No that doesn't mean that there's no more downside potential. The markets, in their chaotic ways, are pushing higher to higher price points. So this is in mind, as it is always when I'm risking my hard earned capital.
After tapping into the ETH Lows and pulling back into an equilibrium during the Pre-Market, the market heads down into the lows once again to grab some more liquidity to bring to the Penthouse Suite.
So, after a minute or two sitting in this position long.... Strike at the 6010 doesn't really provide me with too much confidence, even though it's stacked with mostly upside protection. 🤷♂️
Yeah.... starting to take a little heat. I typically wait until 9:38am - 9:40am to begin probing and poking around... It appears that I may just be a tad early. I still feel confident in my decision, I just don't like to see red with a minus sign in my price marker... 😉
And just when I thought it couldn't get any worse.... I started to hear someone playing Taps on a bugle somewhere outside... 🎺 🫡
Finger on the trigger...
Ugh!
**Take Note**
There is a 13.75 Point wick on the bottom of that candle.
Doh!
That wick will definitely be a factor. Mark my words. Get it? 'Mark' my words... Mark Cuban 😅
Either the midpoint of that wick or the entire range of that wick. Take note of this.
Moving on...
Ah, a little light at the edge of the tunnel.... I wonder what the birds are up to? I turned the Audio on for this trade. I'll be turning it off again after this trade. Whether it goes my way or not.
And not a second too soon (literally) the birds are beginning to feed. The woodpeckers are feasting.
😌 Feeling better now about this trade.... 😮💨
So regarding the Targets...
You can see better below.
The first of my two targets, the lower of the two thin green lines My T-1 is targeting that 'Manipulation Cluster' prior to the drop on the Euro Open. *The second of the two targets is targeting the BSL above that 'Manipulation Cluster'
Also, you'll note the Striker Levels on the HRE of my chart. They are not exact and usually aren't, but they lend some decent ideas and guidelines in most cases. I don't put them on my OF charts because there's just too many things and too much usually equals a conflict of good information. 😉 - * Just a tip... Less is more.
Like I stated earlier... It could potentially be a bumpy ride today. 🤷♂️
Got my second target T-2 in the crosshairs.
The slow grind... slightly higher into that 'Manipulation Cluster' level.
Take Note And there's that notorious 6020 Level again.
Also Note I'm looking for Price to at least reach and tap the 6050 level by the Euro Close today 😉
Putting those beaks to the grindstone.... Woodpeckers hard at work. 😅
That's EXACTLY what I wanted to see and hear PRECISELY at that point!
BOOM!
Gotcha Bitch!!!
Second Target 6021 Taken Out!
Another 18.75 Points removed from the market!
As the market starts to roll over.... for now...
Expecting to see 6050 today... We'll see 🤷♂️
Hope that you guys found a lot of great points in this post, as you would in each thread that I post.