Following up with the sell-off up til 15 Oct, when AXP make a price lower low, i had posted a bullish divergence on RSI & MACD. My long was triggered at 79 but price dropped to 78.35 before rebounding to 90 at the channel top! Took my profit @ 90.44.
Given that it was a DOJI close on channel top, chances are the price movement has exhausted somehow, though not necessarily mean that i will turn come next Monday. I anticipate some consolidation around the blue region with perhaps more break out
But i am ready to short again for sure. Using a buy put options, i have queued 91, 93, 95 which is subjected to minor changes depending on smaller time frame monitoring
Given that it was a DOJI close on channel top, chances are the price movement has exhausted somehow, though not necessarily mean that i will turn come next Monday. I anticipate some consolidation around the blue region with perhaps more break out
But i am ready to short again for sure. Using a buy put options, i have queued 91, 93, 95 which is subjected to minor changes depending on smaller time frame monitoring
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.