This has been going up for awhile. Obviously it needs to come down and consolidate at some time but why now?
Almony
⋅
I guess it all depends on how you trade and your timeframe.
I usually just get "out of the money" bearish call spreads. If you look at chart , every time daily RSI is above 70 and we bump up against the upper trend line that I drew we
tend to get a pull back. So it's all about probabilities, I can't say that we go lower but if I use a disciplined approach and keep a tight stop loss then it can play out nicely.
Market_Psychology
⋅
I've been holding since 63. I am watching and will exit the trade if price falls out of the rising channel. But so far this has been a very profitable trade for me.
Almony
⋅
you see , we have totally different trading style :)
i never hold anything . 2 weeks is a trade too long for me.
If i was in your shoe and I you want to keep holding I would sell covered calls at this point imho.