Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Price seems to be reacting to this long term level at about 132 0/32. I've been having some successful longs recently and plan on continuing to play a bounce here until it tells me to go away.
Weekly:
On the hourly you can see that we are getting comfortable above the 200MA (yellow line). We've formed a little double bottom and have trended up for the last 3 days.
Would you buy here?
Can you help answer these questions from other members on NexusFi?
comparing a weekly chart to an hourly chart is a far stretch. What is your time frame for trading? IMHO I think there is more room to the downside looking at the daily and weekly. The next support I see is around 127
Yeah I see that level, but I think we'll bounce from here. The long term pullback is at the 38.2% level, we are on the edge of higher volume levels, this has proven to be a major S/R level at least 4 times, and the daily and shorter term charts are making a reversal pattern imo. Unfortunately I missed the good moves in ES and ZN today because I slept in, but I'm very bullish here.
I day trade, but I think being aware of levels like this gives great opportunities. I may leave a runner on from here after I get a good entry on ZN, but I'll mostly be buying the dips watching hourly and 5m charts and going for short term intraday trends.
If you still like the odds of your trade down to 127 I think you have a great entry at the current level. I'm expecting the uptrend to resume/continue, but thought I'd throw that out there if you were still watching this.
