Currently in a short on indication of reversal starting from 245. I could have gotten a better entry at 247.5~ since that was a huge indicator.
Now, the selling is strong on this one and is taking out buyers who bought at the 245 level. As well, the 245 level was attempted to be defended by some bulls, creating tension (which causes even harder of a breakout).
So with our current impulsive selling, I'm suspecting that the 240 level won't really hold too well, so we should look for the level at 236, and 230. 225 Would most likely be a place where all shorts of mine would close.
Finally, there may be some retrace or a corrective wave that forms around here. So watch for that as a possible point to add onto a short as well as profit taking if you are taking before the corrective wave.
TL;DR - ST Bearish, look for selling opportunities
Now, the selling is strong on this one and is taking out buyers who bought at the 245 level. As well, the 245 level was attempted to be defended by some bulls, creating tension (which causes even harder of a breakout).
So with our current impulsive selling, I'm suspecting that the 240 level won't really hold too well, so we should look for the level at 236, and 230. 225 Would most likely be a place where all shorts of mine would close.
Finally, there may be some retrace or a corrective wave that forms around here. So watch for that as a possible point to add onto a short as well as profit taking if you are taking before the corrective wave.
TL;DR - ST Bearish, look for selling opportunities