Today was a very hectic day for me. I couldn't follow the market. Position got stop out.
Bigger picture still hangs in the air. The minimum target for the expected wave B on the daily time frame has been reached already, but that doesn't necessary mean the price should reverse in a snap. I still think that the 4 hours and daily charts could offer bullish setups, especially until the market stays above last Friday's low.
I opened another long. The lower long's sl got raised. Today this market is still ranging.
The hourly candle shows signs of reversal, but it is really weak yet.
My last long got stop out. The market is still moving in a correction channel. I opened a long because the price action bounced from the bottom line of this channel (drawn on the 1 hour chart). The gap is still open and the RSI of the 4 hours chart produced a bullish cross (while the 1 hour chart a bearish cross,. but it is not yet confirmed by the MA10/20). The higher time frame should override the smaller degree. This hour's candle will be important regarding the direction of the next wave. If the 4 hours trader join the long side then we shall see a reversal candle pattern on the hourly chart.
Position got stop out. I reentered the market on the long side again. I give this scenario one more chance. I think the market should test at least the upper channel line drawn on the 15 minutes chart.
Since I started to type the market moved in my direction. I put both sl to ep.
Scaled out at 12120. Sl raised to 12084.
Opened a long át 12095.5. Sl at 12072.5.