YM Wednesday Big Sell Off Day? Fill In Gap At 39,150? 600 ticks

A couple of pieces of information that I think will cause a sell off down to 39,150

A declining Hourly 21ema

A gap at 39,150

A rising 200sma that has been poked through last two times

Ramped volume from the FOMC


600 ticks seems really excessive for one session. Maybe two sessions.

Do I go for the throat and hold for a massive trade or do I take the base hit 2 to 1?

I don't want to be greedy but I also don't want to leave money on the table.

Maybe I will go in the middle just watch each hourly candle and close it when I see a fat red candle exhausting itself

Kommentar:

If it gaps down like this tomorrow I will be going for the jugular. 500 ticks at least

Kommentar:

This analysis was completely off. Price gapped up to 39,880 and the setup for today was a gap and crap. I admit I entered a tad late. Two bars after that engulfing. I couldn't tell if it would bounce back up to hit stops first.

I used a 50 point stop and a 90 point target for a 1.8R trade

My target happened to coincide with the 15' 21ema

Trade geschlossen: Ziel wurde erreicht:

Today was a successful day in that I recognized the gap and crap, that I entered at a relatively safe spot with little to no heat and that I was patient enough to let the trade hit my target