macro breakout trading in accumulation/redistribution phase

macro breakout trading in accumulation/redistribution phase

simply traffic light system

Yellow = fast profitable/ Best risk to reward Payday Trade

Green = Long/Buy or take profit

Amber = Risky trading area/choppy price action/ 50/50

Red = Short/Sell or take profit

..................figures for targets are always color coded on the price scale to your right on chart.............................

Trader safe, always use as stop and enjoy your bank holiday money

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First touch of immediate resistance & local macro trendline

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First take profit complete

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INTRA DAY TRADING AND COMFIRMATIONS

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both hedge short orders filled stop above swing high with view to average out position at upper red box peak of pendant if retest does not come first....stop will be above 58980

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now testing our upper trend line or the descending expanding wedge

short hedge stopped out small loss...long trade still held

loss recovered

long now trailed with view to reenter short on confirmation of failed rally at failed test of wedge trendline

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macro shackout!!!

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immediate resistance hit...more shack out to come

tomorrow we should see true break out or break down

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retest complete.....little more shack-out and we should be good for tomorrow

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as always green box = long/buyback/take profit

safe to say this touch of green box was a nice add back to long..

long trailed from here

enjoy

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this area will need to hold if we are to have lift off.........if not we will see the 53k area of chart