VFF big upper wick and profit taking with three bounces from the low of day, lose that level tomorrow we'll be looking for a healthy daily higher low. We've already pulled back 10% from the top of the move, we could still pull back 40% and be very healthy on the weekly chart. The triple bottom on the hourly chart makes it clear the bulls are defending the low of the day as a key support, if we lose that level be on watch for increase bear volume which could extend our consolidation to the downside and potentially give clues about how much consolidation we can anticipate.
my stop was for today on 20.67 , do you think I should keep it for tomorrow?
McGuireTO
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@MilaZha, It depends on how much of a leash you want to give your position. If you want to play the hourly chart, your stop would move up to be a few pennies under 21.25, however if you wanted you could give the bulls a bit more breathing room you could also place it a few pennies below 20.97. If you're playing the daily chart, your stop would be much looser with a stop just below 16.30. With a weekly chart as extended as this one, I would personally err on the side of a higher stop to not give back my profits.
I know you've been in this one for a while - congrats on a wildly successful trade!!
UnknownUnicorn3839740
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@McGuireTO, thanks for the great vids. If it helps you with the price tool you just hold the shift key on the keyboard and click the candle with the mouse and drag. All the best and thanks for all the effort you put in every day. It helps so much
grahamathome
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I love the time chart and the coloured volume bar. I am new to this. Do you have alink to the scripts? Many thanks
McGuireTO
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@grahamathome, volume is an indicator you can add. if you search google for trading view tutorials you should find some great guides to help you get started!