Quick one on $M, short bias: 68% of accounts are long.
Basically most accounts are already long. Fine by me while price respects 0.805. Past 0.827, I'm out.
SHORT 0.8007–0.8047
TP 0.7881 / 0.7784 / 0.7639
SL 0.8270
Why this level:
- 4H price 0.803 below EMA50 0.818, sellers still have the trend
- 3.0% to the stop, 4.8% to TP3: 1.6R if TP3 gets there
- On the daily, price is below the EMA200 (1.431): the daily backs it
Do sellers hold 0.805, or does it give way?
NFA, DYOR.
Basically most accounts are already long. Fine by me while price respects 0.805. Past 0.827, I'm out.
SHORT 0.8007–0.8047
TP 0.7881 / 0.7784 / 0.7639
SL 0.8270
Why this level:
- 4H price 0.803 below EMA50 0.818, sellers still have the trend
- 3.0% to the stop, 4.8% to TP3: 1.6R if TP3 gets there
- On the daily, price is below the EMA200 (1.431): the daily backs it
Do sellers hold 0.805, or does it give way?
NFA, DYOR.
