The setup is invalid on a break above the prior high 4,430 so I'll take off 25% to better my entry price on a move lower from here see first target box in chart.
Looking to then get long for a move into or near 5k but will need to see price action near my downside target before committing to a position.
If price rallies through even the top level of that then it's pretty much a straight shot to 5k from there.
Still holding short, no hedge, new setup in the chart below. Still 3400's region target.
Because I held through the last rally and I'm "slightly" updating my strategy I needed to cove 40% of my position to better my entry point as my new exit is the last high "4,292" so I covered on the last break of 4,300.
Holding 60% short.
10% Covered, Stops Moved To Break Even.
It's all about follow through and momo, best to stay patient into this bounce and see what the market has for us.