So , here's another trade that I'm really not confident in . But just following the wedge drop signal .
Also seems like bulls are having trouble taking out local daily resistance between 74.21 and 71.23 and making a higher high , we instead have 3 lower lows and seems like 3 times trying something and failing increases the probability of another leg down maybe ...
On the flip side however , we are in a range and the longer we stay in this range the more closer the odds of a break up come from favoring the bears slightly to being closer to even odds of up or down . I say that based on Al Brooks price action ,which I have found pretty helpful .
67.22 in
Stop 71.80
PT1 - 62.61 , sell 1/4 , raise stop to half risk
PT2 - 57.64 , sell 1/4
run balance ...
Also seems like bulls are having trouble taking out local daily resistance between 74.21 and 71.23 and making a higher high , we instead have 3 lower lows and seems like 3 times trying something and failing increases the probability of another leg down maybe ...
On the flip side however , we are in a range and the longer we stay in this range the more closer the odds of a break up come from favoring the bears slightly to being closer to even odds of up or down . I say that based on Al Brooks price action ,which I have found pretty helpful .
67.22 in
Stop 71.80
PT1 - 62.61 , sell 1/4 , raise stop to half risk
PT2 - 57.64 , sell 1/4
run balance ...
Trade closed: stop reached
Kind of happy this was stopped so quick , now we just need a higher high from the bulls , ideally with some volume , I see that QQQ relative vol is above 1 , just , but SPY is below 1 , so kind of not what you want to see near or just above the 50 ma . But overall positive ...
艾力克~
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艾力克~
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.