Follow the instructions and take your profits wisely :)
Remember if the conditions for entry don't happen, don't force the trade - entry conditions are also a crucial part of the strategy.
PS: I'd bet on the #1 target since it's a shorter term analysis, if you look at the weekly candles there's a big possibility of a further move down. Therefore I'm betting on a smaller bull run for a correction. But, we're close to the W bot, so it's worth the risk if it's the W bottom we are talking about of a possible 50%+ trade, look at the related ideas, there's a W analysis and it will make more sense.
Are you still seeing the same move up in this trade?
spectertrading
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@arcadiazane, Yes, just follow the same exact strategy :)
spectertrading
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@arcadiazane, and remember moving up your stop-loss so you keep trying. It's not about the winners, it's how you manage the losers. I was stopped before but didn't lose any money :)
arcadiazane
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Thanks for sharing your thoughts RS!
I'm just trying to understand the entries on this 1D analysis.
Are you saying 1st entry if oscillator crosses 270.13 level and then 2nd entry if price crosses 283.90 level (both lower green lines)?
spectertrading
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@arcadiazane, Yes usually I break my position in 2 to 4 parts.
The first entry at ~270 is riskier since you don't wait for a confirmation. That's why I only enter with 50% of the allocated cap for this position there.
And once the PRICE, not the oscillator, crosses the second entry price at ~284, I'd increase my position size. That would make your avg buying price around 277, which is right in the middle of the green oversold zone.
If you play around with the position sizing in between #1 and #2 entry you can move your avg entry price up or down depending on your risk exposure preferences.
The setting I used for the oscillator is the aggressive one :)