5-minute chart, entry 80.53 buy price, target anywhere above 81
I usually take a look at the daily, then the 4-hour chart, then the 60-min, then the 15-min, but in the last 8 months, most of my entries come from a 5-minute chart because I like to get in at the beginning of a reversal if it happens.
Why the reversal might happen: so much selling over the last eight days, that there are probably a large number of stops above the current price action in the mid 80s.
I usually take a look at the daily, then the 4-hour chart, then the 60-min, then the 15-min, but in the last 8 months, most of my entries come from a 5-minute chart because I like to get in at the beginning of a reversal if it happens.
Why the reversal might happen: so much selling over the last eight days, that there are probably a large number of stops above the current price action in the mid 80s.
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