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Good job.. It really bothers me when I hear traders here who are respected mention wide stops and scaling into positions(averging down is part of it). Those strategies are for those who are very experienced and have large accounts to enable a large loss here and there which WILL HAPPEN!
I cannot tell you the number of new traders who I know who have averaged down with huge stops only to blow an account or two,
Risk management is Job #1 for most retail traders.
I have put some ranges on my chart that seem to make sense. What do you think?
See this ab=cd ? We are currently at the bottom of a huge range. The logic of auction says to fade this level but with such a big session today it's weird to think that price might revert back to the top.