As it becomes ever more evident that short is dominant across the board, I've begun "micro shorting" many names. The strategy is that I do not want to hold with much % any equity short without overextension - mid range, but I can hold many micro trades in confidence that the trend is down but knowing a few of them will pop - and thats ok I can make preparations for that.
And so DISH is one in that category.
DISH had a massive Mark Down capitulation through a death cross which the popped to a 0.5 retracement which pierced through the 50DMA and then slumped back down.
And now both before and after earnings pump there are 2 more failures at the 50DMA and so that should be fairly solid resistance.
Earnings popped 0.618 through the 50DMA and as it rejected I entered my first micro trade.
I'm very confident this heads down however due to mid range it could have a pop and I'll add another micro trade at the 200DMA if it gets there.
Not advice.
And so DISH is one in that category.
DISH had a massive Mark Down capitulation through a death cross which the popped to a 0.5 retracement which pierced through the 50DMA and then slumped back down.
And now both before and after earnings pump there are 2 more failures at the 50DMA and so that should be fairly solid resistance.
Earnings popped 0.618 through the 50DMA and as it rejected I entered my first micro trade.
I'm very confident this heads down however due to mid range it could have a pop and I'll add another micro trade at the 200DMA if it gets there.
Not advice.
I'm somewhat quiet on TView for now but you can find me pumping content every day in my Telegram Trading Group 🧐
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Part 2 of the fortnight video now uploaded to the group: 27th May - Crypto focus😼.
$50 per month 👍🏻.
Contact: t.me/dRends35