[TinGull]

Hmmm, to me looks like I'd be getting short with a stop above the high around 8120. But...I'm no expert, so who knows what'll happen.

[RAVIN]

Originally Posted by TinGull »

Hmmm, to me looks like I'd be getting short with a stop above the high around 8120. But...I'm no expert, so who knows what'll happen.

No particular expertise required, the VSA signs are all there
1pt here is $25 , so your stop is at a risk over $500, what about the target .

[TinGull]

The daily pivot would be a target. Bottom of the WRB. the WRB is a support zone for price now, so I'd be cautious.

[TinGull]

Actually, looks like the WRB is holding price inside it now....so, could be all good.

[TinGull]

[RAVIN]

O.K, let's wait for some more response, if any further context is required would be glad to provide

[RAVIN]

o.k, so you would short at 8098, stoploss 8121, (23pts away), target 8076, low of that WRB (22pts), what about the support level of recent swing low at 8088.

Anyway once again the chart this time with a strong VSA indicator (red rectangle on Tradeguider indicating upthrust, also the correct Pivot values on it, infact look even better with price rejection at R2.

However we shall wait for more response

[ranj]

That inverted hammer looks like an upthrust.

The price action appears distributive in nature. Buying climax, followed by the the supply overcomming demand. upthrust, tend to occur at the end of the distribution phase.

I would short right after the upthrust with a entry trailing sell stop below the low of the Upthrust. I would pull my sell stop order if there is high vol. WRBody up bar.

Stop set at he high of the 9:05 bar.
Will look to add to my position after a break of the 9:10 low.
Target, would be the low the WRB and then the pivot low, but I like to look a higher timeframes to determine targets.

Rajiv
PS. What market is this?