Daily chart is showing signs of momentum weakness + as a contrarian the moon talk is too high and global risk is too high coming into the US election.
Looking for a dip to shake out some longs before a definitive attack on the big resistance at $12,000. Don't be dismayed to see this drop like its hot.
To be clear I am very long term bullish but wouldn't trade here on leverage or take a long position. I would not short it ether. Be patient and await the setup.
THIS IS NOT TRADING ADVICE, Please make your own decisions.
Trade active
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Short opened at $11,925
Trade closed: stop reached
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Closed short - chance of a another attempt at 12K with possible stimulus package still on the table. Drop may wait until next week. May get through the house but not the senate
Green 2 above green 1 on your count.why you going against your system?
SuperShibe
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@gson, I don't trade TD signals exclusively on the daily. Like I said I am short term bear with the macro economic climate and the probability of no stimulus being agreed today. I am long term perma-bull, however. Just because I think we going to take a healthy pullback doesn't mean we need a TD9 on the daily.
SuperShibe
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@gson, my words were: "To be clear I am very long term bullish but wouldn't trade here on leverage or take a long position. I would not short it ether. Be patient and await the setup."