I hope we didn't panic sell this morning and you had your risk management in place. Take a look at the chart I have posted, you will see a few patterns that may give you back some confidence. We have a buy signal on the William%R and a similar pattern is emerging as you can see. Now, this is not a 100% certainty as it never is but we play the probabilities and I feel this is a good R&R. If you didn't have your buys laddered down to catch this dip, a possible long if we can break back into the channel we were in last night. Set your stops tight just outside the channel, it looks like this was a failed breakout and we may even be heading to "Jump the Creek" which will pay off in a massive way if we are right, if we are wrong you get stopped out for a small loss. Don't let a loss run too far though, if you get stopped out there will be another opportunity to get in.
Good Luck and Happy Trading.
Thanks for dropping by, hopefully, you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst, and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Also, you could set some buys orders close to the bottom of the triangle and long to the top, again stop outside the structure this time, just in case it breaks down.