Initial entry level $ 105.50-106.00 with stop-loss executed @ 102.00. No major harm done.
The downward move is only due to unwinding of longs, and as always this can always go deeper.
Strategy is BUY $ 93-96 level when seen. We should see recovery back towards $ 110-120 window in the short-term.I feel no stop-loss required, but if you want too.. I suggest below $ 75.
Overall, market should settle above $ 80-85 as fundamentally nothing has changed. The only reason we moved lower was the market condition, and this had worked out well.
The downward move is only due to unwinding of longs, and as always this can always go deeper.
Strategy is BUY $ 93-96 level when seen. We should see recovery back towards $ 110-120 window in the short-term.I feel no stop-loss required, but if you want too.. I suggest below $ 75.
Overall, market should settle above $ 80-85 as fundamentally nothing has changed. The only reason we moved lower was the market condition, and this had worked out well.
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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.