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Since this is in clear downtrend but I like to catch falling knives all the time, I am looking for long entry if price develops above weekly VWAP...as of now it's above WVWAP (PF chart). I want to confirm the order flow by looking at the CD chart. I usually wants to enter with QG and add if it goes against me with sudden drops like the one in last week.
If you can explain how you trade that would be helpful.
Closed TF short from LWVPOC as expected sellers at that area defended....I closed little early as I was loosing profits instead of 1393.50 but now trying to buy it at 1393 (Might cancel that order if it's not filled in next five mins)
Still have ONE YM short....no movement at all in this
Edit: Long TF from 1393.50, let's see if buyers who bought into this area will defend it or not?