Stopped out on my TQQQ long today and we put in a wedge drop so even though I may not be super confident in the trade here with recent strength hints from the bulls , it's still a downtrading market, we did put in a higher low but not a higher high and still important for me to simply take the short signal .
Entry is right at todays close
25.93 in
Stop 27.27
PT 1 , 25.01 , sell 1/4 , stop to half risk
Pt 2 , 23.79 , sell 1/4 , stop same
run balance if possible ..
Personally , I kind of feel like we might be transitioning from a down trend to a range .. and that we might have put in a bottom on the 16th of June already ?? Now perhaps with todays failure by the bulls , some sideways chop seems likely .
Entry is right at todays close
25.93 in
Stop 27.27
PT 1 , 25.01 , sell 1/4 , stop to half risk
Pt 2 , 23.79 , sell 1/4 , stop same
run balance if possible ..
Personally , I kind of feel like we might be transitioning from a down trend to a range .. and that we might have put in a bottom on the 16th of June already ?? Now perhaps with todays failure by the bulls , some sideways chop seems likely .
Note
sold 1/4 at 1R , stop moved to half risk , next target is 2R ( sell another 1/4 )Note
* correction , I mean to say I covered 1/4Note
Covered another 1/4 at open today ...Position derisked, stop same at half original risk
Note
More strength hints from the bulls yesterday's gap was bought up with a close best top of window and today's gap down became a higher close from yesterday with a micro double bottom vs yesterday and now another higher low ... Looks like this short might get stopped out pretty quick ... Go bulls ~Trade closed: stop reached
Alright bulls , love todays gap up / wedge pop . Going to stay out until we see a 50 sma take back though since we are in a range and really need to take out the prior wedge pops high for me to get active .. but crossing my fingers here to see that happen .
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.