I am Long currently, waiting for PA to go the direction I want. BULLISH. I made this 1-hour incase I start erasing the chart and start a new layout for PA. I am sharing this disaster chart, for our insights and also a record for myself of what I historically was thinking. I have a sneaky feeling, PA is looking for a reason to dip yet one more time. However eventually price moves out of any designed graphic, pattern, channel, triangle, up or down trends. The point is finding something to help trade with. Currently PA is still in a downtrend pattern.
Here is a screen shot of a larger span of what I have evolved this chart into.
I have thrown in a Violet colored Bearish Channel...(expecting it to break-out on the top-side to complete the #3 Leg)...it is possible. However PA will most likely break-down and out posting Lower Lows.
Yet another scenario is... That super-sized Yellow Channel is actually a Bull Flag!! and a break-out will eventually occur to the upside. It could be soon or later in a week or so.
Indicators: The 3-day sure is suggesting further downside, as that TF hasn't hinted on the turn upwards, however it is close to showing a possible turn. This turn depends on the strength of the Daily's PA.
The Daily is weak, and this area is where it can do another dip or two, or just finally start moving upwards with authority.
The 9-hour is set for the upside. The 4-hour is resetting. The 1-hour is resetting currently for a bounce off the channel bottom where that green oval is set-up.
交易結束:達到停損點
I got out of this with 4.97% profit.
I actually had a stop order for this trade.
I picked up some bags at o.707
The drop was massive. Possible one more drop.