See updated idea, I'll monitor this closely there. The current setup is valid but might be dangerous to stay short. A small rally might give us an even better short entry if it materializes. Either cover 75% and move the stop down or just move the stop.
IvanLabrie
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Placed a short term buy, closing 75% once I reach the distance to the stop in profit and moving stop loss to break even.
IvanLabrie
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(I cancelled this one for 0.1% profit...not worth holding it)
IvanLabrie
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Might be a good idea to stand aside, or watch FOMC for an entry in case we see a rally.
Wooi
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What indicator is that on the price? The blue color line that is in sync with the price.
IvanLabrie
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Linear regression channel. Takes experience to know where to place the start and end. A good start is the start of a trend and the end of the last strong move.
Wooi
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Is it available to the public? If it is, where can i get it? I can't find it. Thank you.
IvanLabrie
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Sure, it's a tool, not an indicator. It's the one with 3 diagonal lines drawn with the trendline tools.