I have an alert set for when 6B comes into that 4 Hr Supply. A few more basing candles than I would like before the drop but it was a strong enough move to add to the watchlist. It also comes into a weekly LVN right above that Supply Level. One thing I will say is because that high was so weak, almost 7, 4 hour candles with almost the same high, I believe there is a chance we punch through and repair that weak high before we get the rotation, therefore my stop will be a little wider than usual, and I'll be trading less contract. Im gonna be front running the weekly LVN by a tick, cause I also think there is a chance we reject strongly off of the LVN and often times it will start rejecting a tick early. My stop is going above the anchored VWAP (off the recent High on the 13th) which also is where the 100 EMA on the Daily falls as well. As always this is not Financial Advice, I am just sharing the trades I plan on taking for a few reasons, one to log my trades, 2) some accountability and documentation, and hopefully these Ideas help somebody to find some trades of their own. I would Love to see anybody elses Idea links in the comments. Happy Trading Everybody. Good Luck this week
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Entry at 35.10 Short. Major LVN from last week and selling pressure in 30 Min Upside Wicks