Today has been a great day trading and have a perfect setup that I wanted to share. A lot of what I will be trading is off of trendline and then taking volume and price to back it up.
Overall what happened here is that price hit the trendline that you see and dropped down. This was backed up by divergence of price/volume at the 1362 mark signaling a strong chance of reversal down. Also, you can see by the horizontal line that the 1358 mark is a major point. I knew that if it broke that it is going to keep going down.
Currently I am just chasing each bar down until it gets stopped out because I have no reason to get out of it until the 1343 mark which is the previous major low. So far I am over 4 points profit!
I will go into more of the price/volume later because I am still learning it and I am not able to explain it in way that anyone would understand yet.
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