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Having learned about the Space Concept, I know just because there is Space, does not mean there is a trade.
Fully aware of that, but I wanna see if it would work here if price trades 83 for a target of 99 with a stop @ 68.
Each push lower not as bearish from the series of 5 minute bars. 15 minute also showing the same but the path to 99 is not as clear as I'd like but let's just put this trade on and apply more of what I've learned so far.
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
83's filled
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
from 90-99 is not smooth sailing!
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
My understanding of Space was correct, market could not reach 99 smoothly and showed lots of resistance and chop from 90-97, 2 ticks from T1 but I did not bail cause I wanted to see how price acts based on this Concept.
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
Need to have a consistent rule set if the path to the Space target is littered with chop.
market could not even get through 94 and has traded back down near entry.
The 60 is showing congestion on a bigger picture, so the market can break either direction at this point.
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
Once again, being in a trade with a new concept I've learned is teaching me alot about how to apply this new found knowledge.
BeansTwoNiner
Toronto Ontario Canada
Posts: 290 since Mar 2013
Thanks Given: 2
Thanks Received: 35
Stopped out. I saw it happen the moment it traded away from 3594, but I did not have a plan that says I can move my T1 if this or that happens.